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The Omega Watch Company was founded by Louis Brandt in 1848. By 1889 Omega became the largest producers of watches in Switzerland with production figures of over 100,000 watches per year. During this period they made historically important watches, like the minute-repeating wristwatch developed in 1892 in partnership with Audermars Piguet. Almost certainly the first wristwatch of its kind. Omega has a long established reputation for innovation and quality which has led to numerous awards over the company's 150-year history. This became evident as early as 1900 with the Grand Prix at the Paris World Fair. Omega has also had a long affiliation with sports. Omega has been the official timekeeper at over 21 Olympic Games, and has contributed many significant innovations to sports timekeeping over the years. Because of its well-deserved reputation for precision and reliability, the Omega Speedmaster was chosen by NASA as its official chronometer in 1965. In 1969 the Speedmaster became the first watch to be worn on the moon when Buzz Aldrin wore his on his first lunar excursion. A major milestone in the firm’s recent history was the introduction of the revolutionary Co-Axial escapement, developed by world-renowned English watchmaker George Daniels. The Co-Axial was first offered in a limited run of watches in 1999. The combination of the new escapement and a newly developed free-sprung balance attempts to
eliminate the sources of error in timekeeping. It also succeeded in extending the planned service interval to around 10 years.