Japanese firm Cybernet Systems Co. has acquired Waterloo based Maplesoft for an undisclosed amount. Maplesoft, which specializes in mathematical and analytical software used for engineering and education programs announced the completion of the deal today. The acquisition is expected to be complete by September
Maplesoft will continue to operate independently and will remain in its Waterloo headquarters. The company's 125 employees will be unaffected by takeover. Maplesofts media relations manager Tina George said "Cybernet has committed to continue things as they are for at least five years".
Cybernet Systems has been distributing Maplesoft's software in Japan and throughout Asia for nearly 20 years. The new agreement will allow Maplesoft to increase their research and development capabilities and provides Cybernet Systems access to Maplesoft's software expertise and a growing list of international customers including NASA, Boeing and BMW.
Maplesoft has 77 shareholders including board members, current and past employees. It was founded in 1988 by Keith Geddes and Gaston Gonnett both professors from University of Waterloo.