Mumbai, Aug. 25 -- Tata Consultancy Services has entered into an agreement with Porsche to acquire 100 percent of MHP Management- und IT-Beratung, the car maker's management and IT consulting subsidiary.

The transaction remains subject to regulatory and antitrust approvals and is expected to close in the coming months.

Furthermore, the acquisition is paired with a 5-year strategic agreement between TCS and Porsche to deploy artificial intelligence (AI) technologies across the automaker's value chain.

As per the understanding, MHP will operate as an independent consulting firm and retain its brand identity within TCS, combining MHP's automotive consulting operations across Europe with TCS's engineering, cloud and AI infrastructure.

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