The Swatch Group Ltd. acquires SID Sokymat IDent Component GmbH, Germany
Mr. Markus Spreng, currently General Manager of SID Sokymat IDent Component GmbH, will continue to head operations for the new Swatch Group subsidiary in Reichshof-Wehnrath as General Manager. Mr. Herbert Thyssen, General Manager of Sokymat SA in Switzerland, will become a member of the Board of Directors of SID Sokymat IDent Component GmbH, and will support the activities of SID Sokymat on an assignment basis. The 43 employees of SID Sokymat IDent Component GmbH will all be maintained, and the present activities in Reichshof-Wehnrath will be continued and expanded.
SID Sokymat IDent Component GmbH manufactures transponders for car immobilizers, and is extremely successful in this field. The integrated circuits used in these transponders come exclusively from Swatch Group subsidiary EM Marin in Marin (Switzerland), which has supplied SID Sokymat IDent Component GmbH for years. SID Sokymat IDent Component GmbH is one of the leading suppliers in the field of car immobilizing systems. Their transponders are used in numerous automobile brands worldwide.
With this step, Sokymat SA has provided its subsidiary with innovative microchip technology and the prerequisites for positive development. Sokymat SA will concentrate on its other non-automotive business areas.
The acquisition of SID Sokymat IDent Component GmbH signifies a logical reinforcement in the area of “Electronic Systems” for the Swatch Group, as these identification systems are used both in the automotive components sector and elsewhere.