Timex Group USA, Inc. (formerly known as Timex Corporation), a subsidiary of Timex Group B.V. and its US headquarters, is based in Middlebury, Connecticut. The company is the current day successor to the Waterbury Clock Company, founded in 1854 in nearby Waterbury, Connecticut. The company was restructured in early 2008, establishing the Timex Business Unit as a separate business function for the Timex brand with its own president. Until then, past Timex Group CEO's had managed the Timex Group and brand, which had contributed to the brand’s less-than-stellar earnings in the previous five years. While Timex Group’s Sequel division, which houses the Guess collections, had grown tremendously to rival Timex as the firm’s top earner, the signature brand had been flat, as of August 2008. Since this change, Timex has introduced GPS enabled watches, heart rate monitor exercise watches and similar high tech devices. In 2008, Timex Group USA signed a four-year agreement making Timex the first official timekeeper of the ING New York City Marathon.Meanwhile, parent company Timex Group B.V. launched two new Swiss-Made luxury watch brands – Salvatore Ferragamo Timepieces and Valentino Timeless – under the Timex Group Luxury Watches business. As the year closed, construction commenced on the second-largest ground mounted solar array in the northeastern United States at Timex Group USA's Middlebury, CT headquarters. The 800-panel solar array was inaugurated on February 5, 2009 during a press event held at the headquarters. A few months later Timex Group USA purchased ownership of the Marc Ecko watch trademark it had licensed since 2002. At the same time, the Callanen International business unit merged with the Timex Business Unit bringing the Timex, Opex, TX, Nautica and Marc Ecko brands all under one house. In an agreement announced on June 16, 2009, Timex Group USA became an official sponsor of the NFL's New York Giants new headquarters and practice facility called the Timex Performance Center. Further details of the sponsorship include Timex being an official equipment provider to the Giants and working closely with the team to develop new products. In honor of Timex's 50th anniversary, the company re-released their classic Timex 80 watch. The iconic retro design of this basic digital watch made it a hit with both fashion lovers and retro watch enthusiasts, and the range has since expanded to jumbo sizes, silver and gold metallic finishes and calculator watches.