New Delhi, Aug. 25 -- For 4,500 engineers and consultants at MHP, the name that arrived with Monday's announcement was not one anyone in Ludwigsburg had expected: Tata Consultancy Services, India's largest technology company, would be their new owner. The deal ends three decades of MHP's existence as a Porsche subsidiary and marks the latest instance of a European industrial company deciding that running a global IT consultancy was never really part of the plan.

its management and IT consultancy arm headquartered near Stuttgart - to TCS in a statement. Financial terms were not disclosed. The transaction requires regulatory approval and is expected to close in the coming months. MHP will keep its name and operate as an independent consult...