The mechaquartz movements were invented after the Quartz crisis in the late 80's by Swiss and japanese brands quite at the same time. In Switzerland, the first mechaquartz was invented by Jaeger-LeCoultre and Frédéric Piguet. In Japan, by Seiko.
Mechaquartz technology combines the accuracy of the quartz watch with the appeal of the mechanical watch. As a rule, the watches powered by this movement are in affordable price ranges.