McLaren Racing and Splunk Announce Multi-Year Formula 1 Partnership Extension

Rhea-AI Summary

Splunk (NASDAQ:SPLK) and McLaren Racing have announced a multi-year partnership extension, continuing Splunk's role as the official technology partner of McLaren's Formula 1 team. Since 2020, Splunk's Data-to-Everything Platform has enhanced McLaren's performance by improving decision-making and operations using data. The partnership includes Splunk branding on driver overalls and race cars. Both companies emphasize the importance of data in achieving high performance in Formula 1.

Positive

• Multi-year partnership extension reinforces Splunk's brand visibility in a high-profile environment.
• Enhancement of McLaren Racing's operational efficiency using Splunk's Data-to-Everything Platform.
• Collaboration expected to provide valuable insights through machine learning capabilities.

Negative

• None.

Splunk Inc. (NASDAQ:SPLK), provider of the Data-to-Everything Platform, and McLaren Racing have today announced a multi-year partnership extension which will see Splunk continue as an official McLaren Technology Partner of the McLaren Formula 1 team and McLaren Group.

Beginning in 2020, Splunk collaborated with McLaren to deploy its Data-to-Everything Platform to enhance performance across the McLaren Racing team by bringing data to every question, decision and action on and off the track. Splunk will continue to capture data from across the McLaren Group infrastructure, network and server environment. This also spans the McLaren Racing function, within the team’s Formula 1 cars, to assist in accelerating operations and performance.

As part of the partnership, the Splunk brand will be represented on the McLaren Formula 1 driver overalls of Lando Norris and Daniel Ricciardo, on the team kit and on the sidepod and cockpit of the McLaren Formula 1 MCL35M race cars.

“Over the past 12 months, our work with Splunk has been incredibly beneficial to our team,” said Zak Brown, CEO, McLaren Racing. “ In the fast-paced and technological environment of Formula 1, data is a core element to our team and is integral in how we effectively and efficiently operate. We are delighted to announce this partnership extension with Splunk, which allows us to continue to deploy their expertise and Data-to-Everything Platform, providing our team with valuable insights to further strengthen our operations and performance.”

“High performance on the race track comes down to split-second decisions and data is the key to making that happen,” said Doug Merritt, President and CEO, Splunk. “Splunk’s Data-to-Everything Platform provides the McLaren Racing team with powerful insights and machine learning capabilities that enable the team to turn their data into doing. We’re excited to extend our partnership with the team both on and off the racetrack.”

For more information about Splunk’s partnership with McLaren, visit the Splunk website.

About McLaren Racing

McLaren Racing was founded by New Zealand racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966, since when McLaren has won 20 Formula 1 world championships, more than 180 Formula 1 grands prix, the Le Mans 24 Hours at its first attempt and the Indianapolis 500 three times.

McLaren Racing currently competes in Formula 1 globally and INDYCAR in the US. The team will contest the 2021 FIA Formula 1 World Championship with Lando Norris and Daniel Ricciardo. In 2021 McLaren Racing will race in the INDYCAR Series with drivers Pato O’Ward and Felix Rosenqvist. Juan Pablo Montoya will compete for the team at the 105th running of the Indy 500 in the third Arrow McLaren SP Chevrolet.

About Splunk

Splunk Inc. (NASDAQ: SPLK) turns data into doing with the Data-to-Everything Platform. Splunk technology is designed to investigate, monitor, and analyze and act on data at any scale.

Splunk, Splunk>, Data-to-Everything, D2E and Turn Data Into Doing are trademarks and registered trademarks of Splunk Inc. in the United States and other countries. All other brand names, product names, or trademarks belong to their respective owners. © 2021 Splunk Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210208005090/en/

FAQ

What is the significance of the Splunk and McLaren Racing partnership extension for SPLK investors?

The multi-year partnership extension enhances brand visibility for Splunk in a high-profile sports environment, which could positively influence investor sentiment.

How will the Splunk Data-to-Everything Platform impact McLaren Racing's performance in Formula 1?

The platform is designed to help McLaren Racing enhance decision-making and operational efficiency, potentially leading to improved performance on the track.

When did Splunk first partner with McLaren Racing?

Splunk began its partnership with McLaren Racing in 2020.

What branding opportunities does Splunk gain from its partnership with McLaren Racing?

Splunk's brand will be featured on the driver overalls, team kit, and race cars, increasing its visibility during Formula 1 events.

How does the partnership with McLaren Racing align with Splunk's business strategy?

The partnership leverages Splunk's data analytics capabilities, showcasing its technology in a competitive environment and potentially attracting more business clients.