The BMW WilliamsF1 Team today confirmed that their principal sponsor, HP, has extended its commercial partnership for a multi-year period.

The renewal of the Formula One agreement that has already spanned five years is a clear statement of mutual confidence in the partnership by both companies.

HP provides a broad range of products, technologies, solutions and services for the BMW WilliamsF1 Team, across car design, performance, data management, manufacturing and telemetry at the team's headquarters and Grands Prix around the world.

The BMW WilliamsF1 Team provides a unique environment for HP to market its competencies to consumers and businesses alike within the world's most technology-driven sport - Formula One.

The mutual interest in a partnership founded on strong technology credentials reflects both organisations' key virtues. HP is a global leader in multiple technology areas, while the BMW WilliamsF1 Team has an established track record of technical excellence and innovation.

Frank Williams, the BMW WilliamsF1 team principal, commented: "HP has been a valuable commercial and technical partner for the team for the past five seasons. The renewal of our partnership is not only of significant commercial relevance to the team, but the technical expertise we draw from HP makes an invaluable contribution to our on-track performance."

Michael J. Winkler, executive vice president and chief marketing officer at HP, added: "HP has benefited tremendously from the relationship with the BMW WilliamsF1 Team. Through the sponsorship the HP brand receives exposure to 160 million people, 18 times a year, allowing our company to utilise the high-profile nature of the sport to illustrate and endorse HP's global technological capabilities."