This partnership will transform the Olympic Games and the Olympic experience.
"We're very excited to be working with the Intel team to drive the future of the Olympic Games through cutting-edge technology", said Bach. The Olympic Games provide a connection between fans and athletes that has inspired people around the world through sport and the Olympic values of excellence, friendship and respect.
Bach called the partnership "a landmark moment for the future of the Olympic Games" during his remarks in NY on Wednesday.
Krzanich added: "Through this close collaboration with the Olympic family, we will accelerate the adoption of technology for the future of sports on the world's largest athletic stage".
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Intel will offer "the first live virtual reality broadcast of the Olympic Winter Games" to immerse fans in the action.
The IOC says Intel will bring its expertise with virtual reality and drones to the games for four Summer and Winter Games through 2024.
Intel is the newest addition to the International Olympic Committee's stable of worldwide TOP sponsors.
Intel's global rights will include the Winter Olympic Games at Pyeongchang in 2018, the 2020 Tokyo Games, Beijing's Winter Games in 2022 and the Olympics in 2024, which will be held either in Paris or Los Angeles.
Tsunekazu Takeda, the IOC's Marketing Commission Chair, said: "Our strategic partnership with Intel is a clear demonstration of the enduring appeal of the Olympic Games and the trust the world's leading companies have in the Olympic Movement".
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