Porsche Sells IT Business to Tata for €1.25 Billion

Porsche AG has entered into an agreement with Tata Consultancy Services for €1.25 billion to deploy artificial intelligence systems. As part of the deal, Porsche is selling its consulting business to TCS, including MHP Management-und IT-Beratung GmbH, which is valued at €320 million. The deal is expected to close in 3-4 months pending regulatory approval. The partnership aims to integrate AI into key areas of Porsche, including engineering development and customer service. Porsche CEO Michael Leiters noted that the sale of MHP is part of the strategy to focus on the core automotive business. TCS, in turn, will strengthen its position in the European IT consulting market with this acquisition. Porsche also plans to cut 9,000 jobs by 2035 due to weak demand.

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