TCS sees a big opportunity in sports sponsorships

For a while now, Tata Consultancy Services (TCS to the world at large) has been engaged in sports sponsorship. Unusual for an IT company you might imagine, whose primary business is B2B. This is the entity that is the software part in the salt-to-software term used to describe the Tata Group. This prized jewel is the second most valuable in India in terms of market capitalisation.

Early this month, TCS inked a deal with British racing team, Jaguar Racing, to be the title partner for the upcoming 2021/22 ABB FIA Formula E World Championship. Now, the team will be known as Jaguar TCS Racing. This multi-year partnership, the statement said, "will create a dynamic platform that will drive research and innovation while steering towards advanced concepts and electric vehicle (EV) technologies. TCS will leverage its leadership in technology transformation and experience working with premier players in the EV value chain, to help Jaguar TCS Racing become a catalyst for electrification, pushing towards low carbon emissions and sustainable mobility."

It also made a key mention of "the creative use of data and insights from the racetrack to shape the wider growth, development, and transformation of the entire electric vehicle ecosystem".

Interestingly, TCS replaced Panasonic, a name in consumer electronics a clear B2C player), who signed on in the 2016-17 season and remained till last October.