Porsche and Tata Consultancy Services (TCS) have signed an agreement providing for the sale of the management and IT consultancy MHP to TCS.
The sports car manufacturer is taking another major step in focusing on its core business. At the same time, Porsche and TCS, together with MHP, intend to establish a partnership in the fields of digital solutions and artificial intelligence, to accelerate the development, scaling and integration of AI applications in key business areas.
“Porsche is taking another important step in its strategy to focus resolutely on its core business with the transfer of MHP to Tata Consultancy Services,” says Michael Leiters, Chairman of the Executive Board of Porsche AG. “At the same time, we are gaining a strategic partner in TCS. By combining Porsche’s automotive expertise with TCS’s digital technology and AI capabilities, we will further strengthen our innovative power, increase efficiency and boost our competitiveness in an increasingly data- and software-driven world of mobility.”
The acquisition of MHP by TCS remains subject to customary regulatory and competition law approvals. The transaction is expected to be finalised in the coming months. TCS intends to acquire MHP in its entirety as a group of companies. Furthermore, MHP will retain its brand and continue to operate as an independent consultancy under its existing name.
In recent years, MHP has developed into a leading and internationally active management and IT consultancy. For more than 30 years, MHP has supported companies in managing complex strategies and IT transformations across the entire value chain. The company serves a broad range of industries, including automotive, manufacturing, aerospace, defense, energy, and the public sector. MHP has extensive expertise in the transformation of the automotive industry and has successfully delivered numerous complex transformation programs. Key areas of future growth and expertise include artificial intelligence, software-defined manufacturing, supply chain management, integration and scaling, cyber security, programme management, platforms and ecosystems. MHP employs more than 4,500 people worldwide and its headquarters are in Ludwigsburg, near Stuttgart.
K. Krithivasan, CEO and Managing Director, Tata Consultancy Services, says, “TCS is pleased to partner Porsche in its transformation journey. As AI, software and data redefine the automotive industry, this partnership brings together TCS’ capabilities in AI, engineering and technology and business transformation with MHP’s strong automotive consulting expertise. Together, we will industrialize AI at scale for Porsche, accelerating innovation across the value chain to deliver intelligent, software-defined mobility experiences of the future.” Following the acquisition, MHP is set to become part of Tata Consultancy Services. TCS is a provider of IT services, consultancy services and technology solutions and is part of the Tata Group. The company serves clients across numerous sectors and has a global presence in 55 countries.
