Porsche AG agreed to sell its IT subsidiary MHP to Tata Consultancy Services for €320 million. The transaction carries a value of approximately $373 million.
The sale aligns with the Sportwagenschmiede 35 strategy to prioritize luxury sports car production.
The companies also entered a five-year strategic partnership. This collaboration is worth €1.25 billion.
TCS will implement artificial intelligence across Porsche’s engineering, manufacturing, and customer experience sectors.
MHP employs 4,500 people and will remain an independent brand within TCS.
Porsche expects the deal to close within three to four months pending regulatory approval.