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TCS Renews Sponsorship of TCS New York City Marathon Through 2029

Posted On: 2021-07-21 13:23:10 (Time Zone: UTC)


Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, announced that it hassigned an eight-year contract with New York Road Runners (NYRR) to extend its title and technology sponsorship of the TCS New York City Marathon through 2029. TCS' sponsorship of global running events will also be highlighted in a new advertising campaign which debuts today.

TCS' extended partnership with NYRR follows its announcement earlier this month that it will become the new title sponsor of the London Marathon starting in 2022. Collectively, TCS plans to invest $30 million to $40 million annually in global running sponsorships and related community programming from 2022 to 2029.

"We are delighted to extend our sponsorship of the TCS New York City Marathon, the foremost running event in the world," said Surya Kant, Chairman, North America, TCS. "We sponsor running events across the world because we want to inspire local communities to live healthy and active lifestyles, and also because of the obvious parallels between marathons and the growth and transformation journeys that we help our customers undertake. Running a marathon makes you feel that there's nothing you can't do. With each step, you're building on belief."

As part of the sponsorship, TCS will launch a new version of its TCS New York City Marathon App that incorporates augmented reality (AR) featuresthat became popular for virtual races during the pandemic. The new version will include features to support both in-person and virtual runners along with surprise-anddelight AR experiences. Fans and athletes will be able to access real-time runner tracking, digital cheer cards, and a finishing-time predictor.

The other pillar of TCS' sponsorship focuses on redoubling its efforts to encourage communities to adopt active, healthier lifestyles. TCS will donate $4 million to NYRR's youth and community programs including Rising New York Road Runners, a free, nationwide NYRR program that incorporates physical education into the school day. TCS will also develop a marathon version of its award-winning goIT STEM education contest that will challenge students to develop an app concept that promotes active lifestyles and inclusivity. Lastly, TCS will host the Team TCS Teachers Program, which will select 50 teachers from across North America who demonstrate an ability for sharing their passion for running with students. Selected teachers will receive free race entries, a VIP race day experience, and marathon-themed lesson plans for students from TCS' STEM education program, Ignite My Future in School.

The company's new advertising campaign titled We Believe is anchored in its marathon sponsorships, and complements TCS' new brand direction. Using marathon supporters and fans as the heroes of the story, the campaign is centered around a runner's journey and the team of individuals it takes to turn a belief into reality.

"At NYRR, we are thrilled to extend our incredible partnership with TCS for the next eight years," said Kerin Hempel, CEO, NYRR. "Since 2014, TCS has helped us transform our runners' experience through technological advancements, while also providing tremendous support of our community programs across the five boroughs. TCS and NYRR have shared core values, commitment to service, and passion for innovation, and I can't wait to see what we co-create in our next chapter together."

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs. 3205.3 as compared to the previous close of Rs. 3184.4. The total number of shares traded during the day was 114292 in over 9236 trades.

The stock hit an intraday high of Rs. 3214.85 and intraday low of 3156. The net turnover during the day was Rs. 364983956.


Source: Equity Bulls

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