Mercedes F1 team boss Toto Wolff is selling his piece of ownership to CrowdStrike CEO Georg Kurz

Mercedes-AMG Petronas F1 CEO and team principal Toto Wolff is bringing the team into new ownership, selling part of his holdings to… Crowd Strike Founder and CEO George Kurtz, executives told CNBC on Thursday.

The personal acquisition of Kurtz expands a partnership between the motor racing team and the software provider that dates back to 2019. It also extends the technology industry’s push into global motorsport. The financial terms of Kurtz’s investment were not disclosed, but a person familiar with the matter told CNBC that the deal values ​​the Mercedes team at $6 billion.

Mercedes said on Thursday that Kurtz had taken a 15% minority stake in the ownership entity controlled by Wolff, which represents a third of the team – making Kurtz’s stake 5%. Mercedes Benz Chemicals giant INEOS also owns a third.

Kurtz will become a technical advisor to Mercedes F1, helping to expand the team’s work in data analytics as the sport becomes increasingly technology-driven with more development processes relying on simulation and artificial intelligence. He will join a panel including Mercedes-Benz CEO Ola Källenius and INEOS founder Jim Ratcliffe and Wolff. Team management remains unchanged.

Kurtz will also focus on expanding his U.S. and global technology partnerships, the team said. CrowdStrike provides AI-powered protection for a team’s infrastructure.

Kurtz is unusual among billionaire investors because he is a competitive racer himself. He has won major endurance events, including the 24 Hours of Le Mans, Petit Le Mans, Six Hours of the Glen and the Indianapolis 8 Hours, and has multiple titles in 2023.

The ownership change comes as Mercedes tries to return to the top of motorsport after falling behind McLaren and Red Bull in recent seasons. The team won eight consecutive constructors’ titles from 2014 to 2021 but has not won since. 2026 regulations and engine overhaul have heightened expectations of a turnaround.

Formula 1’s popularity in America continues to rise, driven by… Netflix Documentary series entitled “Driving to Survive” Apple The launch of the blockbuster “F1: The Movie”, three American races on the calendar and the addition of a Cadillac-sponsored team next year.

Disclosure: CNBC is a sponsor of the McLaren Formula 1 racing team. Sarah Eisen is a member of the McLaren Advisory Board.