1 week ago
TCS Secures €1.25 Billion Porsche Deal for AI Transformation
Tata Consultancy Services has made a large technology deal with Porsche.
The deal is worth €1.25 billion and will last five years.
TCS will work with MHP, a technology and consulting company it is acquiring.
The companies will help Porsche use artificial intelligence in more parts of its business.
These areas include designing cars, making cars and running company operations.
They will also work on customer services and digital car technologies.
The agreement depends on the MHP acquisition being completed.
TCS has not said how the money or work will be divided between TCS and MHP.
Tata Consultancy Services secured a five-year, €1.25 billion strategic technology agreement with Porsche AG and MHP.
The agreement will focus on applying artificial intelligence across Porsche’s engineering, manufacturing and operational functions.
The partnership will also support customer experience, enterprise transformation and software-defined mobility platforms.
The agreement becomes effective when TCS completes its acquisition of MHP Management- und IT-Beratung GmbH.
TCS did not disclose the work or revenue split, annual contract value, milestones or acquisition completion date.
- Who
- Tata Consultancy Services, Porsche AG and MHP Management- und IT-Beratung GmbH.
- What
- A five-year strategic technology agreement worth €1.25 billion to support Porsche’s artificial intelligence and digital transformation efforts.
- Where
- The agreement concerns Porsche’s engineering, manufacturing, operational, customer-experience and enterprise functions; TCS disclosed it to India’s BSE and National Stock Exchange.
- When
- The agreement will take effect upon the closing of TCS’s acquisition of MHP; no completion date was disclosed.
- Why
- To industrialise artificial intelligence across Porsche’s business and provide automotive technology services and software-defined mobility platforms.
Key facts
- Deal value
- €1.25 billion
- Duration
- Five years
- Companies involved
- Tata Consultancy Services, Porsche AG and MHP Management- und IT-Beratung GmbH
- Main focus
- Industrialising artificial intelligence across engineering, manufacturing and operations
- Additional scope
- Customer experience, enterprise transformation and software-defined mobility platforms
- Effective date
- The closing date of TCS’s MHP acquisition
- Undisclosed details
- Work and revenue division, annual contract values, milestones and MHP acquisition completion date
Sources
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