Electronics giant Panasonic will be the official TV, camera and air conditioning sponsor of the Australian Open tennis tournament, the first Grand Slam of the calendar year.

The company has signed a three-year deal with the Grand Slam, which has seen two major sponsors, GE Money and Garnier, opt against renewal this year.

"We are excited to have Panasonic committing to what will be an enduring and successful relationship," said Tennis Australia chief executive Steve Wood. "Panasonic is a leader in its field and we believe the brand offers a natural fit for the Australian Open and the Australian Open Series events. Their sponsorship will provide an enormous contribution to the game of Tennis and I look forward to working closely with Panasonic Australia in the future."

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Steve Rust, managing director, Panasonic Australia added: "We are thrilled to sponsor Tennis Australia as the official TV, Camera and Air Conditioning partner, and be associated with one of the world’s most prestigious sporting events – the Australian Open. The game of tennis has a large, passionate following in Australia, and at the elite level the game enjoys both huge match attendance as well as large television and radio audiences."