Both the MercedesMercedes-BenzGermany, 1924 > present197 models
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AMG Petronas and Vodafone McLarenMcLarenUnited Kingdom, 1963 > present92 models
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Mercedes Formula 1 teams have confirmed that Lewis Hamilton will leave McLaren next season to take Michael Schumacher's spot at Mercedes. He will be replaced at McLaren by current SauberSauberSwitzerland, 1970 > present21 models
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driver Sergio Perez. Sauber is waiting to announce who will get Perez's spot. 

Hamilton's contract will run three years with Mercedes. Nico Rosberg will remain as the team's other driver. 

“Together, we can grow and rise to this new challenge. I believe that I can help steer the Silver Arrows to the top and achieve our joint ambitions of winning the world championships," said Hamilton.

"The arrival of a driver of Lewis’ caliber is a testament to the standing of Mercedes-Benz in Formula One and I am proud that Lewis shares our vision and ambition for the success of the Silver Arrows," said Mercedes Team Principal Ross Brawn.

McLaren said that Perez has signed a multi-year deal with the team, but would not say for how long. 

“I'm under no illusion that it is indeed a very big step – as it would be for any driver – but I'm ready for it. So, while I'm still fully focused on doing my best for Sauber for the remainder of this season, I'm already massively looking forward to working with everyone at Vodafone McLaren Mercedes, and with Jenson, who's someone I’ve long admired as a brilliant driver and a great champion," said Perez.

Sauber is delaying its driver announcement for now. 

"We will announce them in due course," said Sauber team owner Peter Sauber.

This move is still surprising coming from Hamilton. He has raced his entire career for McLaren and had close relationships with the team, especially with Ron Dennis. 

The Perez move is almost as surprising. He is a member of the FerrariFerrariItaly, 1947 > present233 models
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Driving Academy. It was expected that if anyone took Perez for next season, it would be Ferrari to replace Felipe Massa. .

Finally, while this will probably mark the end of Michael Schumacher's Formula 1 racing career, do not expect him to go far. He may turn into an elder statesman of the sport and never go too far away, like Jackie Stewart. 

Schumacher to leave Mercedes and will be replaced by Hamilton