Ferrari strikes multi-year partnership with HP for Formula One team sponsorship

MILAN (Reuters) - Ferrari has signed a multi-year partnership with HP, making the world's second-largest PC vendor the new so-called title sponsor of Ferrari's motor racing team, including for Formula One, the two companies said on Wednesday.

Based on the agreement, for which no financial details were provided, the HP logo will make its debut on Ferrari's Formula One cars ahead of the Miami Grand Prix on May 3-5, when the team will start competing as Scuderia Ferrari HP, the companies said in a joint statement.

The partnership debut will be marked by a unique edition Ferrari car livery, specifically designed for the Miami Grand Prix.

Ferrari hadn't had a title sponsor, whose name is associated with that of its racing team, since its latest partnership of this kind, with Philip Morris's Mission Winnow, expired at the end of the 2021 season.

As part of the deal, Ferrari will use HP technology and services, including adaptive PCs and devices, collaboration products and services, and printing capabilities.

"The integration of HP's high-performance products and services ... will enable Scuderia Ferrari HP and the other racing teams of the Prancing Horse to turbocharge training precision and optimize strategic decision-making, on and off the track," they said.

Ferrari and HP added they were committed to accelerating sustainable innovation and that they would work together to expand educational initiatives within their teams and communities.

(Reporting by Giulio Piovaccari; editing by Jonathan Oatis)