Multi-year agreement includes commitment to engineer automotive digital solutions DXC logo to appear on SF-23 commencing Formula 1 Miami Grand Prix
Ashburn, VA, May 3, 2023 – DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services company, today announced it has signed a multi-year agreement with Scuderia Ferrari, the racing division of Ferrari N.V. (NYSE/EXM: RACE), including a commitment to engineer the latest in automotive digital solutions, elevating the performance and driving experience.
DXC brings together customized, end-to-end technology to provide engineering solutions that power the automotive industry. DXC is working with Ferrari on unified and scalable digital automotive solutions modernizing the vehicle information capabilities. This will enable a long-term software strategy that can be deployed in Ferrari sports cars produced from 2024 onwards.
Together with Scuderia Ferrari, DXC will bring together the latest proven technologies in Formula 1 with the latest in human machine interfaces (HMI). In addition, DXC’s logo will appear on the outer halo of the Scuderia Ferrari Formula 1 cars, as well as on the driver race suit, helmet, and other materials, beginning May 5 with the Formula 1 Miami Grand Prix.
“We have been working with Ferrari for several years on their essential infrastructure, and we are proud to move to a partnership that includes guiding them to their technology future,” said Michael Corcoran, Global Lead, DXC Analytics & Engineering. “We are committed to innovating technology that transforms the vehicle information capabilities and enhances the driving experience for all.”
DXC recognizes that automotive software development is increasingly important with the change to software-defined vehicles because it improves the in-car experience and connects the driver to the automotive manufacturer. DXC is partnering with Scuderia Ferrari because of its reputation as the most successful racing team in Formula 1 history and is known for its continuous pursuit of innovation.
"We are delighted to start this partnership with DXC Technology, a company that already provides ICT infrastructures and human machine interfaces for Ferrari’s critical systems and with which we will explore further software asset management solutions in the future,” said Lorenzo Giorgetti, Chief Racing Revenue Officer at Ferrari. “With DXC we share values such as business expertise, the search for continuous innovation and dedication to excellence. We look forward to developing this partnership in the years ahead.”
Forward Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by, the coronavirus disease 2019 crisis and the impact of varying private and governmental responses that affect our customers, employees, vendors and the economies and communities where they operate. For a written description of these factors, see the section titled “Risk Factors” in DXC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022, and any updating information in subsequent SEC filings. No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this report or to reflect the occurrence of unanticipated events except as required by law.
About DXC Technology
DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.
John Sweeney, CFA, VP of Investor Relations, +1-980-315-3665, [email protected]
Source: DXC Technology