Group AG: Subsidiary Swiss Timing takes over Wige Data GmbH
(Switzerland) and Cologne (Germany), February 6, 2006
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.
: Edgar Geiser, CFO, et Thomas Dürr, Corporate Treasurer Swatch Group
.. +41 32 343 68 11, fax +41 32 343 69 16
Béatrice Howald, Head of Media Relations Swatch Group
.. +41 32 343 68 33, Fax +41 32 343 69 22