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Yes, they refer to it here.
https://fein.com/en_uk/fein/company/history/
Apparently the multi tool was based on an automotive 'chassis saw'. Turns out the first application was removing glass from silicon in cars.
Airhead-
Found this out with my 1st multitool (lost/presumed stolen from same car) that it was the absolute perfect tool for cutting out old sub frame bushs insitue in the car, much easier than dropping entire sub frame away from the engine and gearbox, pressing them out in a hydraulic press, then putting back in the car. Went through old subframe bush material like a warm knife through butter.
BrickMan
They work on the same principle as those oscillating tools they use to cut off plaster casts without slicing through the quivering flesh beneath. In fact, I think I read somewhere that those medical tools were the precursors to the multitools we all know and love.