Tata Consultancy Services (TCS) will acquire Porsche AG subsidiary, MHP Management for € 320 million (Rs 3,575 crore), the IT giant informed exchanges on Monday, August 24.
The filing read, "the Board of Directors of Tata Consultancy Services Netherlands B.V., a wholly owned subsidiary of the Company, at its meeting held today, considered and approved the acquisition of 100% of equity shares of MHP Management- und IT-Beratung GmbH, subsidiary of Porsche AG, for an enterprise value of € 320 million."
(This is a developing story.)
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