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TCS approves €320 million acquisition of Porsche IT subsidiary MHP
Image: Primary Tata Consultancy Services has approved the acquisition of Porsche AG subsidiary MHP Management- und IT-Beratung GmbH for an enterprise value of €320 million, PTI reported, citing a TCS regulatory filing.
The transaction would give TCS full ownership of the management and IT consultancy through Tata Consultancy Services Netherlands BV. It is part of a five-year strategic partnership valued at €1.25 billion. Completion is expected in three to four months, subject to approvals from the European Commission and authorities in Germany and Romania.
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