Tata Consultancy Services (TCS) plans to spend up to $280 million on global race sponsorships through 2029, per CNBC.
TCS, which specializes in IT services and consulting, counts Microsoft and AstraZeneca among clients and is owned by Tata Group, a multinational conglomerate based in Mumbai.
TCS has a market cap of roughly $159 billion and trades on the National Stock Exchange of India.
The money spent on races, and other sporting events, is part of a larger plan to humanize TCS and get a global audience more familiar with the brand.
- It renewed its title sponsor agreement with the NYC Marathon last week in a deal that runs through 2029. TCS has been the event’s title sponsor since 2014.
- The firm became the title sponsor of the London Marathon in a six-year deal in June.
- It inked a helmet sponsorship deal with the NHL’s Philadelphia Flyers in January.
The firm reported $6.15 billion in revenue for Q1 2022, a 21.6% increase year-over-year. The company’s workforce surpassed 500,000 after adding 20,409 employees during the quarter.