German software company Teamviewer said on Tuesday that it had struck a five-year sponsorship deal with the Mercedes Formula 1 and Formula E teams, following its recent shirt deal with soccer club Manchester United.
TeamViewer, a provider of remote connectivity, will be shown on both the cars and the racing suits of drivers in the Mercedes-AMG Petronas F1 team led by world champion Lewis Hamilton, and the Mercedes EQ Formula E Team.
Goeppingen-based Teamviewer said the cost of the deal was accounted for in the recent downward revision to its profit margin guidance for this year made when it announced its shirt deal with Manchester United this month.
-Reuters