Schmidt Peterson Motorsports (SPM) proudly announced today that Denver-based technology company Arrow Electronics will be the primary sponsor of the No. 5 car driven by James Hinchcliffe in the 2015 Verizon IndyCar Series.

The Arrow livery will be officially unveiled on the No. 5 car later today at Arrow's Internet of Things (IoT) Immersions event in San Jose, CA. Schmidt, Hinchcliffe and key Arrow team members will be in attendance to present the car.

Arrow's IoT Immersions tour brings together technology leaders to discuss comprehensive IoT building blocks and how businesses can leverage Interconnected Intelligence to improve lives. With forums in four key U.S. markets, Arrow connects technology developers with leading-edge suppliers to provide insights about IoT technologies and services, discuss topical issues and applications, and see demos of IoT solutions created with Arrow's support, and more.

"The true goal of technology is to benefit people and improve their lives," said Michael Long, chairman, president and chief executive officer of Arrow. "Collaborative learning on how society can improve, by being better connected and better informed, is what Arrow hopes to accomplish with our Immersions tour."

Every Immersions event features a keynote presentation by SPM team owner Sam Schmidt. Schmidt shares his story of how working with Arrow on machine-to-machine (M2M) technologies enabled him to drive official qualifying laps at the 2014 Indianapolis 500 in a uniquely modified 2014 Corvette. He was severely injured in a practice lap crash in 2000 that left him a quadriplegic. Schmidt said the race car sponsorship is the next logical step in the evolving Arrow relationship that revolves around innovation.

"Having Arrow Electronics as a primary team sponsor is just another step in this dream come true," adds Schmidt. "The company's vision is perfectly aligned with SPM and INDYCAR's key focal points: speed, innovation and technology. We look forward to an exciting race season and a great partnership for years to come."

Aiden Mitchell, vice president of semiconductor marketing for Arrow Electronics, said, "Our partnership with Sam Schmidt has helped bring to life how technology can help people become the drivers in their own lives. Working with Sam and sharing the technology behind our modified Corvette C7 in our Immersions series has been a pivotal element in demonstrating the power of M2M technologies and the Internet of Things. We look forward to taking this next turn with SPM, and helping to spread the word with a wider Arrow audience."

Driver James Hinchcliffe added, "I'm very excited to drive the No. 5 Arrow Electronics car this season and set our sights on victory lane. Although the number 77 has been part of SPM since 2011, we have an incredible opportunity to spread the word about Arrow's Five Years Out initiative, and coincidentally, we were lucky that the No. 5 was available to further Arrow's brand story.

"The Five Years Out philosophy shows that Arrow sets the bar high, and that's exactly what we want to do in the Verizon IndyCar Series. Competing in the most versatile racing series in the world means we're focused on technology, which makes this partnership a natural fit."

In less than two weeks, Hinchcliffe's Honda-powered car will hit the track for the first time at the Verizon IndyCar Series Open Test on March 16-17 at Barber Motorsports Park in Leeds, AL. SPM and the other teams will fine-tune setups for the final time before the INDYCAR season opener on Sunday, March 29. The Firestone Grand Prix of St. Petersburg is the first of 16 races on the INDYCAR circuit.

About Schmidt Peterson Motorsports:

Schmidt Peterson Motorsports (SPM) was established in 2001 and is owned by former IndyCar driver Sam Schmidt and Canadian businessman Ric Peterson. Schmidt was paralyzed (quad) in 2000 after an accident during testing at Walt Disney World Speedway in Orlando, Fla. SPM fields cars in the  Verizon IndyCar Series, including the Indianapolis 500, and the Indy Lights Series presented by Cooper Tires. SPM is the most successful team in Indy Lights Series history with sixty-five race wins and seven championships. In addition, SPM won the coveted Indy 500 pole position in 2011, and has won four Verizon IndyCar Series races in 2013 and 2014.

About Arrow Electronics

Arrow Electronics ( www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 100,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 460 locations in 56 countries.

Copyright Business Wire 2010