Through its subsidiary Swiss Timing Ltd., The Swatch Group Ltd. is taking over from Wige Media GmbH, Cologne (Germany) all shares in Leipzig-based Wige Data GmbH. Siwss Timing is also taking over its subsidiaries Wige Innovation GmbH, likewise based in Leipzig (Germany), and Wige MIC Liberec s.r.o., in Liberec (Czech Republic). This take-over will take effect from January 1, 2006, subject to the agreement of the Federal Cartel Office.
Wige Data GmbH has around 130 employees working on sports timekeeping, software development, and the field of graphics services for TV stations.
Swiss Timing Ltd. has played a leading role in sports timekeeping for many years and is responsible for timekeeping and data handling at numerous major events such as the Olympic Games. The company has already been collaborating very closely with Wige Data GmbH for some time. The take-over will reinforce existing synergies and further strengthen cooperation.
Following the sale, Wige Media GmbH in Cologne will withdraw from the area of sports timekeeping, apart from in the field of motor sports, which will remain with Wige Media GmbH. However, Wige Media GmbH will continue to be connected to Wige Data GmbH through a collaboration agreement which covers software services and TV graphics development.