Commonly referred to as ETA, the company is headquartered in Grenchen, Switzerland, and is a wholly owned subsidiary of The Swatch Group.

Through a series of mergers, ETA has become the largest manufacturer of Swiss watch movements and controls a virtual monopoly over their production and supply.

In 1856 at Grenchen, Urs Schild, a schoolmaster, and Dr. Girard set up a watch movement (ébauche) factory which eventually became Eterna.

In the 1930s, both ASUAG and SSIH entered into complementary research and development programs to combat a severe economic crisis.

At that time, Nicolas G. Hayek, as newly elected chairman of the board and main shareholder had already become the only person of reference.

[4] The key components which differ at the line of demarcation between Elaborated and Top are the shock protection system (Elaborate=Etachoc/Top=Incabloc), balance wheel (Elaborate=Brass/Top=Glucydur) and the hairspring (Elaborate=Nivarox 2/Top=Anachron).

In contrast, since the addition of the "-2" at the end of the movement number, there has been no difference between the standard and the chronometer grades in terms of the regulator mechanism, both being Etachron.

In contrast, since the addition of the "-2" at the end of the movement number, there has been no difference between the standard and the chronometer grades in terms of the regulator mechanism, both being Etachron.

Later versions of the Seamaster used a proprietary coaxial escapement invented by George Daniels, an English horologist, and exclusively marketed by Omega, a sister company of ETA.

The system and movement were developed by Edmond Capt in 1970, as a fully integrated self-winding mechanism with quick-set day/date based on the Valjoux 7733.

The key components which differ at the line of demarcation between Elaborated and Top are the pallet stones, balance wheel & hairspring and the regulator mechanism.

The Swiss Competition Commission ordered ETA to continue supplying ébauches to companies outside The Swatch Group during the investigation.

The commission had found that for ébauches in the price range up to US$250, there were no real alternatives and ETA's decision to stop deliveries was a breach of Swiss law pertaining to cartels.

[16] Although the 2005 decision has spurred some watchmakers to invest in the personnel and equipment necessary to produce movements in-house, heavy reliance on ETA continued.