Cognizant, the US-based IT multinational, is now the new title sponsor of the Aston Martin Formula 1 team for the 2021 season. With this new deal that is estimated to be between £20-30 million per season, the team will be known as Aston Martin Cognizant Formula One Team.
We're delighted to announce a multi-year title partnership with @Cognizant. 🤝
Discover how Cognizant, one of the world's leading IT brands, will play a key role in empowering the team as we take to the grid later this year ⬇️https://t.co/8Fo1ahSq8h#BeCognizant #IAMF1 pic.twitter.com/GVB5XHjnaT
— Aston Martin Cognizant F1 Team (@AstonMartinF1) January 7, 2021
This deal is crucial for both organisations since Aston Martin returning to F1 after 60 years, while Cognizant looking to raise brand awareness outside the US in markets like the UK, France, Germany, Singapore, Japan, and Australia.
The arrival of Cognizant as the title sponsor is more than a branding exercise as the company will also work behind-the-scenes as a digital transformation partner, enabling the team with IT infrastructure and software solutions. The Aston Martin team is owned by a group of investors led by the Canadian billionaire Lawrence Stroll. He also has a 25 percent stake in the Aston Martin luxury car business.
The rebranded Aston Martin team also gave a sneak peek of their car livery for the upcoming season while confirming Cognizant as title sponsor. Aston Martin’s team was previously known as Racing Point. It looks like they are all set to drop the pink colour used by Racing Point and replace it with dark green.
The new livery will be fully revealed at Aston Martin’s global headquarters in Gaydon, UK in February. They will also unveil the drivers for the season, featuring four-time World Champion Sebastian Vettel and multiple grand prix podium finisher Lance Stroll.