Founded by Greg Galanos in 1985 as Metropolis Computer Networks in Hudson, Quebec, Metrowerks originally developed software development tools for the Apple Macintosh and UNIX workstations. In 1992, it began an effort to develop development tools for Macintosh computers based on the newly announced PowerPC processor as well as legacy support for 68k chipsets. It shipped the first commercial release of CodeWarrior in May 1994 at Apple's Worldwide Developers Conference. In March 1994 Metrowerks had its initial public offering, trading under the symbol MTWKF (NASDAQ foreign exchange) and continued to trade on Canadian exchanges. Also in 1994, Metrowerks opened a small sales and R&D office in Austin, Texas to be closer to the manufacturers of the new PowerPC chips, IBM and Motorola. Metrowerks would later move its corporate headquarters to Austin along with Greg Galanos (Founder/President/CTO) and Jean Belanger (Chairman/CEO). In August 1999, Motorola's semiconductor sector (Motorola Semiconductor Products Sector, or SPS) acquired Metrowerks for roughly $100 million in cash. Metrowerks subsequently acquired a small number of other companies including HIWARE AG, Embedix and AMC. In early 2005 Freescale management decided to absorb Metrowerks completely and not treat it as a wholly owned subsidiary.