TCS pays $373M for Porsche's IT arm, pockets a $1.45B five-year AI deal
TCS is buying Porsche's German consulting unit MHP for $373 million and, in exchange, landing its second European mega-deal in eight months: a $1.45 billion, five-year contract to run an AI layer across Porsche's engineering, manufacturing and customer-experience operations. The pickup prices MHP below half its annual revenue, and the roughly $290 million-a-year contract lends a sorely needed revenue boost as TCS tries to snap a 21-year first ever annual sales decline. Europe, a third of its top line, now hosts four of its recent big wins.