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Saturday, March 2, 2024

TCS Plans to Spend $280M on Global Races

  • Tata Consultancy Services plans to spend up to $280 million on global races.
  • The IT firm will do so by 2029.
Derik Hamilton-USA TODAY Sports/Design: Alex Brooks

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.

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