Dec.5 (GMM) Luxury watchmaker Rolex has signed up as F1's official timekeeper.

F1's official website said the "major" deal is a "long-term" one.

"This is an exciting step for us at Rolex as the fit between formula one and our brand feels very natural and, like all great partnerships, needs little explanation," Rolex CEO Gian Ricciardo Marini said.

Until now, the logo of Korean electronics brand LG has featured on F1 timing.

Wednesday's statement said Rolex "will give the time in different locations during each grand prix", while the logo will be featured around the circuits.

"Without question Rolex is the partner of choice for a world class sporting series like formula one," said F1 chief executive Bernie Ecclestone.

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