The new name will be revealed by the Silverstone-based company early next year.
The Silverstone-based team, now known as Aston Martin Aramco Cognizant F1 Team, will at the very least withdraw title sponsorship from its global technology services partner.
Cognizant has been working with Aston Martin since owner Lawrence Stroll rebadged the team from Racing Point for the 2021 season.
A strengthening of the connection was revealed at the Qatar Grand Prix with a cooperative effort spanning operational efficiency, diversity, and inclusivity efforts.
“Cognizant was Aston Martin’s first F1 title partner,” said Stroll in a statement alongside the announcement.
“They completely understood how a high-profile sports marketing partnership could raise their international profile, and the first phase of our relationship has succeeded spectacularly in increasing their global brand awareness.
“As we enter this new phase of our partnership, we will deepen our relationship: we see things the same way, we have the same goals, and we work together in a truly unique and innovative way. It is a pleasure to work with such an ambitious and like-minded partner, so today’s announcement that they have chosen to extend their relationship with us speaks volumes for the harmony we enjoy together.
“What we’re seeing from working with Cognizant, is that they can really leverage their expertise in data, analytics and machine learning to make a marked difference to our efforts as a design team to build a faster racing car and become a leaner, more efficient organization.
“I firmly believe that this is the way all sports marketing partnerships should be: true synergies. I couldn’t be happier with the pathway forward that we have established together.”
Aston Martin F1 Team Set For Name Change
While Aston Martin and Cognizant’s cooperation is growing stronger, it appears that the American business will lose its title sponsorship.
“Cognizant was our first title partner – and they engaged with Aston Martin in order to build the reputation of their brand,” an Aston Martin representative informed RacingNews365.com.
Cognizant is a $35 billion firm with 300,000 workers, but it wasn’t a household name three years ago.
“Through the first phase of their partnership with us, they’ve achieved that – now, lots more people know who Cognizant are and what they do.
“This was always planned as phase two of that relationship – after achieving global brand awareness, they are deepening their partnership with us, they are applying their digital transformation to our business – both on and off the racetrack – and we are now building a deeper, broader relationship with them.
“The new team name will be confirmed in early 2024.”
While there is no word on what the new team’s name would be, Saudi Arabian oil company Aramco is anticipated to be the front-runner to take up Aston Martin’s single championship sponsorship.
However, with F1’s growing popularity giving a springboard for business through team alliances, there will no doubt be sponsors looking for a collaboration, particularly with a platform like Aston Martin.
