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Reuters
Reuters
Business

Teamviewer in five-year sponsorship deal with Mercedes F1 and FE teams

FILE PHOTO: The logo of software company TeamViewer AG is pictured during TeamViewer's initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, September 25, 2019. REUTERS/Ralph Orlowski

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.

(Reporting by Douglas Busvine; Editing by Caroline Copley)

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