Sir Richard Branson’s Virgin Racing Formula One team,one of the many new teams for the 2010-11 season has signed a new 3 year deal with UST Global, a major IT service provider in India. The deal is a big one especially for UST as the deal translates into revenues amounting upto 10 million dollars for the IT service firm, but more than the revenue part, it will help improve the brand image of the company.Indian tennis ace Leander Peas’ Leander Sport Pvt Ltd, has led the transaction.

Under the deal, UST Global will offer technology support to the Virgin racing team.UST Global will be developing a Race management tool for the 2010 season,which will give the race engineers a 360 trackside view of each Grand Prix.Under the deal, Virgin Racing will have the UST Global logo on their cars and on the drivers’  suits. So with the popularity of the Formula one and if Virgin Racing can pull together some upsets in the races, UST’s brand image will be on the rise soon. Congrats to UST Global on the new deal.

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