TTS Tooltechnics Systems Acquires Shaper Tools, Inc.
TTS Tooltechnic Systems AG & Co. KG acquires the US company Shaper Tools, Inc. and thereby expands its technological competence in the field of digitization
The company Shaper Tools, based in San Francisco (California), develops a mobile, intuitively operable CNC device under the name "Origin". Origin enables the user to perform complex milling tasks easily, quickly and without templates, regardless of the size of the workpiece. At the heart of this innovative product is computer vision technology that tracks the tool’s position on the workpiece, and an automatic position-correction system that adjusts the position of the cutting bit to precisely follow a digital design. It's an enormous facilitation for the user, who only needs to guide the machine while Origin automatically positions itself for precise milling.
With this technology, TTS is taking another big step forward in offering innovative digital solutions to its target groups. Together with the software experts from Shaper Tools, further trend-setting offers are to be developed for the customer.
Shaper Tools is integrated into the TTS Group as an independent company and continues to carry its name and brand. The current management will continue in its function. The parties have agreed not to disclose the purchase price.
About Shaper Tools, Inc.
Shaper Tools, Inc. is an innovative start-up based in San Francisco, California. The mobile CNC machine "Origin" developed there can carry out all imaginable milling tasks easily and quickly, regardless of the size of the workpiece. With over 20 employees, sales started under the Shaper Origin brand in early 2018. Further information can be found at www.shapertools.com
Company information TTSTTS Tooltechnic Systems AG & Co. KG is a medium-sized family business in its third generation with more than 3,000 employees, which distributes its products internationally via 25 of its own sales companies and more than 40 import partners. For years, the company has successfully established itself in the highly competitive power tool market, particularly with the Festool brand as a specialist for carpenters, painters, car painters and the renovation and refurbishment sector. In 2017, the TTS Group generated consolidated sales of EUR 617 million.
Further information can be found at www.tooltechnicsystems.com