Swatch Group AG, the world's largest watchmaker, said its unit Swiss Timing Ltd is acquiring all the shares in Germany's Wige Data GmbH, as well as Wige Innovation GmbH and Wige MIC Liberec SRO.
The shares are being purchased from Wige Media GmbH for an undisclosed sum.
Wige Data GmbH has around 130 employees working on sports timekeeping, software development, and graphics services for TV stations, the Swiss group said in a statement.
Swiss Timing Ltd is active in sports timekeeping and is responsible for timekeeping and data handling at numerous major events such as the Olympic Games.
The company has been collaborating closely with Wige Data GmbH for some time.
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