WWD.com/accessories-news/watches/swatch-group-sells-subsidiary-7577680/

PARIS — Swatch Group said it has sold its Oscilloquartz Ltd. subsidiary, a manufacturer of frequency sources, to Germany’s ADVA Optical Networking SE for an undisclosed sum.

 

The world’s biggest watchmaker said it expected the deal to be concluded in early April, but declined to disclose the terms of the acquisition.

 

Headquartered in Neuchâtel, Switzerland, Oscilloquartz designs, manufactures and installs frequency sources and synchronization systems supplied to telecommunication integrators as well as public and private network operators in more than 90 countries. Established in 1949, the company employs 70 people.