TeamViewer AG: TeamViewer to enter landmark partnership with Mercedes-AMG Petronas F1 Team and Mercedes-EQ Formula E Team
- Five-year partnership as key pillar of TeamViewer's strategy to build a truly global tech brand
- TeamViewer to transfer use cases from the racetrack to the industrial environment of customers
- Investment in Mercedes F1 and FE partnership fully reflected in recently updated adjusted EBITDA margin guidance for 2021
- Partnerships with #1 sports to accelerate global enterprise and personal user expansion
- Landmark sport sponsorships to foster billings growth rates after 2023, while maintaining best in class profitability
GOPPINGEN, GERMANY - EQS Newswire - 30 March 2021 - The Mercedes-AMG Petronas Formula One Team and Mercedes-EQ Formula E Team are proud and delighted to jointly announce the leading global software company TeamViewer as a new official partner. TeamViewer will provide the teams with remote connectivity solutions and further cutting-edge technology to drive greater performance over the next five years. The software company breaks new ground as the first brand to agree a new partnership with Mercedes in Formula One and Formula E, including prominent branding on both cars and the drivers' racing suits. As the only manufacturer competing in both series, Mercedes is uniquely positioned to deliver this partnership.
TeamViewer will be joining a high-tech ecosystem that is engineering the future of mobility in the world's fastest development laboratory, thanks to advanced performance hybrid solutions in Formula One and battery electric technology in Formula E, which will find their ways into future passenger vehicles. The demanding remote operating conditions, as well as the data-driven nature of each racing series, will prove use cases that can be translated from the racetrack to the industrial environment for TeamViewer's customers.
TeamViewer software will make the Mercedes teams more efficient, with optimized remote operations and enhanced connectivity between team processes trackside and back at base, notably in terms of race support during testing and racing. TeamViewer will furthermore play an important role in motorsport's journey towards net zero emissions, by enabling people and companies to effectively monitor systems remotely. By enabling remote working and IoT solutions across multiple sites, TeamViewer technology can deliver further reductions of the carbon footprint of the racing teams, each of which achieved the FIA's 3* Environmental Accreditation standard last year.
Today's announcement also provides a sneak preview of the branding that will appear on the Mercedes race cars in Formula One and Formula E, as well as on the driver overalls and teamwear, from the respective Monaco races in each series - the Monaco E-Prix will be held on 8th May, with the Grand Prix de Monaco following two weeks later, on 23rd May.
Broadcast in more than 170 territories around the world and with more than 500 million global fans, Formula One is the world's most popular annual sporting platform and reaches an annual cumulative audience of over 1.5 billion. Alongside the global pinnacle of motorsport, Formula E is growing a new and distinctive audience for its unique city racing format, and together the two series will support TeamViewer's ambition to become a truly global tech brand through races in 25 countries across six continents.
"We are thrilled to announce this new partnership with TeamViewer," said Toto Wolff, CEO and Team Principal of the Mercedes-AMG Petronas F1 Team and Head of Mercedes-Benz Motorsport. "Motorsport is a proven catalyst for technology and business development, and we are excited to work together on both fronts over the coming years. It is a dynamic and ambitious brand, and a perfect fit for the pioneering spirit of Mercedes-Benz in motorsport. By working together across F1 and FE, we can drive gains in technology performance, and we will help optimize remote operations for many companies across the globe. In addition to our own ambitions in terms of sustainability, we are convinced that the growth of companies like TeamViewer will make a meaningful difference to CO2 emissions on a much greater scale. I'm excited to welcome them to the team - and looking forward to seeing their brand enter the global stage with our Monaco races in May."
Oliver Steil, CEO of TeamViewer: "We are very proud to become an official partner of Mercedes-Benz, one of the most iconic brands in motorsport. TeamViewer and Mercedes share the same values of performance, innovation, and engineering. This partnership is a key pillar in our strategy to build a truly global tech brand, while creating new opportunities to transfer use cases from the fastest-moving and most data-driven sports into the industrial environment of our customers. We are excited to provide the Mercedes Formula One and Formula E teams with our leading connectivity solutions for remote diagnostics and collaboration - making them faster, more efficient, and more sustainable. Joining forces with the most successful teams in motorsport underpins our strategy to grow stronger for longer and generates additional value for our customers, employees and shareholders."
The Mercedes-Benz and the already announced Manchester United partnerships form a key pillar of TeamViewer's marketing strategy to invest in its brand equity globally and accelerate the enterprise customer and personal user expansion in key growth markets. The company expects both sports partnerships to foster growth after 2023 when it expects EUR 1 billion in billings, leading to extra billings of around EUR 150 million in 2025, while retaining best in class profitability levels. The investment in the Mercedes F1 and FE teams is already reflected in the recently updated adjusted EBITDA margin guidance of 49-51% of billings for 2021. All strategic marketing activities have no impact on other growth initiatives including investments in sales and R&D as well as further tuck-in acquisitions.
For more information on the partnership please have a look at: http://www.teamviewer.com/en/sponsorship/mercedes/
If you would like to know more about the marketing strategy of TeamViewer, please visit: http://www.teamviewer.com/en/sponsorship/
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