Festool buys SawStop
The following press release was sent out today by SawStop:
SawStop to be Acquired by TTS Tooltechnic Systems,
Company to Continue to Operate Separately
Tualatin, Oregon – June 26, 2017: SawStop today announced the acquisition of SawStop, LLC by TTS Tooltechnic Systems, a third-generation family-owned company based in Wendlingen, Germany. The TTS family of companies includes Festool, Tanos, Cleantec and others, and employs more than 2,500 people around the globe.
“We are proud to join a company with a shared passion for customer safety, product quality and meticulous engineering,” said SawStop’s President, Dr. Stephen Gass. “Speaking for our entire team in Tualatin, Oregon and across North America, we are excited to join with TTS to bring safer woodworking to more people through new tools and in new markets around the world. With a family like TTS at our side, I can’t wait to see what we will accomplish together.”
The acquisition is expected to be completed in July 2017. SawStop’s current management team will continue to operate the company out of its Oregon headquarters.
Of course, this leaves a lot of questions unanswered. Primarily, does TTS now own SawStop’s patents and/or the rights and also, can we expect to see SawStop’s technology on other tools under the TTS umbrella?
We’ll update this page as we find out more.