HP Announces Conclusion of Successful BMW WilliamsF1 Team Relationship
PALO ALTO, Calif., Sept. 14, 2005
HP today announced that it will conclude its sponsorship with the BMW WilliamsF1 Team at the end of the 2005 season.
HP has been the principal sponsor of the BMW WilliamsF1 Team since the 2000 Formula One season. Over the past six seasons, HP has successfully partnered with the BMW WilliamsF1 Team as their technology provider in the world's leading technology-driven sport.
"This has been a successful global branding property and an excellent technology partnership for HP," said Cathy Lyons, executive vice president and chief marketing officer, HP. "We have met our objectives and it is a natural moment for HP to conclude our relationship. We wish them all the best as they go in a new direction next season."
In 2005 alone, HP's Formula One presence has acted as a touch-point for the HP brand in more than 200 countries, with a worldwide audience at 160 million for each of the 19 Grand Prix. The relationship has seen the BMW WilliamsF1 Team garner 42 podium finishes, including 10 Grand Prix victories. The team finished second in the Constructors Championship in both 2002 and 2003.
HP's technology contribution has been key throughout its relationship with the team, helping WilliamsF1 reduce its cost of operation and maximising its investment in innovation.
"HP has made an important contribution to the team over the last six years, in particular establishing a technology base and IT approach for us which we believe has put us at the forefront of F1 teams in this respect," said Sir Frank Williams, principal of the BMW WilliamsF1 Team.
HP will continue as the principal sponsor of the BMW WilliamsF1 Team until the completion of the 2005 Formula One season and will work closely with the team to pursue the best results possible as the season closes in Brazil, Japan and China.
HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended July 31, 2005, HP revenue totaled $85.2 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.