Swatch Group: ADVA Optical Networking acquires the Swiss company Oscilloquartz, a specialist in the Time and Frequency field, from Swatch Group.
March 11, 2014 – Biel / Bienne (Switzerland) – Martinsried / Munich (Germany) – March 11, 2014 – The Swatch Group Ltd and ADVA Optical Networking SE today announced that ADVA Optical Networking SE has acquired all shares of Oscilloquartz Ltd., based in Neuchâtel, Switzerland. The acquisition is subject to customary closing conditions and is expected to close in early April 2014. Further terms of the acquisition have not been disclosed.
Founded in 1949, Oscilloquartz designs, manufactures and installs the most precise frequency sources and synchronization systems supplied to telecommunication integrators as well as public and private network operators in more than 90 countries. Headquartered in Neuchâtel, Switzerland, the company has approximately 70 employees. The company will be maintained in the region of Neuchâtel.
SOURCE: The Swatch Group