The Boat Race, contested between the universities of Oxford and Cambridge on the Thames for nearly two centuries, will be known as the Xchanging Boat Race, taking the name of the company that has sponsored the event for the past four years.

Robert Gillespie, the chairman of the Boat Race Company, would not reveal whether the company was increasing its payments, but said: "We are delighted that Xchanging wishes to identify so closely with the event and invest in its future."

David Andrews, founder and chief executive of Xchanging, added: "We are pleased and honoured to assume title sponsorship of an event that typifies the best of sportsmanship and competitive intensity. Xchanging draws strength and inspiration from the determined example of the Oxford and Cambridge crews. We expect the 2010 Xchanging Boat Race to be another compelling sporting battle and wish both crews all the best."

Xchanging branding will feature prominently on a new event logo displayed on the Tideway course and at the start in Putney and the finish at Mortlake.