It will be the first time that both the men's and women's squads will share the same name since they began racing.
"We are thrilled to have Scott step up into a major, co-naming rights sponsor for our team," said general manager Shayne Bannan. “Their progression as a sponsor follows ours as a team and together we believe the partnership will achieve great things in the coming years.
"We are committed to providing our men and women the best environment and equipment to achieve maximum results. Scott Sports' dedication to this cause, right from day one, has already seen us come a long way since our inception. Now, together, we look forward to taking the next major steps. After a breakout 2016 season, we are extremely excited for what 2017 holds for us."
In conjunction with the sponsor announcement, the team has unveiled its new kit designed by Giordana, the Italian brand that is also supplying Astana with their 2017 kit.
The team have kept the dark blue look they took on when BikeExchange became secondary sponsor for the second half of the 2016 season, although the shade is a touch darker. Gone is the lime green that has become synonymous with the GreenEdge squad and replacing it is a colour closer to yellow. The new colour accents the jersey in stripes across the chest, the right hand side, the sleeves and the collar.
The team will make its 2017 debut at the Mitchelton Bay Cycling Classic on January 1. The 2017 season will be the last for the current sponsorship deal with Orica, who are set to leave the team at the end of the year.