In 1854, the company was founded as the Waterbury Clock Company in nearby Waterbury, Connecticut. In 1944, the company was thought to have become insolvent, but it was reformed into Timex Corporation, being the only current successor. In 2008, the company was acquired by Timex Group B.V, and was renamed into Timex Group USA.
Shortly after purchasing the Waterbury Clock Company in 1941, founder Thomas Olsen had renamed the company Timex, as a portmanteau of Time (referring to Time magazine) and Kleenex.
In an agreement announced on 16 June 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.