The decision came after the firm determined it would be “more economical” to form connections with Manhattan-area businesses from a distance, said CEO Jody Campeau.
When asked to elaborate, he said the company is focusing on Canada and solidifying the growth in its existing offices, particularly in Calgary and Montreal.
“We’re right now continuing to control our growth and making sure that we’re operating at full capacity in all of (our) regions,” Mr. Campeau said.
Maplesoft said last year that it would open the office after abandoning plans to purchase a Rochester-based Oracle reseller, Serverware, for undisclosed reasons.
Maplesoft’s previous statements with OBJ pegged a U.S. presence as an integral step to grow revenues from $100 million in 2011 to $1 billion at a future time.
“We are intent on being in New York,” said Maplesoft president Paul Butcher in an October 2011 interview. “One of the benefits of (opening an office) organically from the get-go is it’s absolutely in line with what we’re doing.”
Mr. Butcher’s profile on LinkedIn indicates he left Maplesoft in May after nine months with the company. The former Mitel chief operating officer is now a partner at HostedBizz Inc.
Maplesoft’s current head count is 120, up four per cent from 115 last year.