Smart Technologies

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Template:Short description Script error: No such module "redirect hatnote". Template:Use Canadian English Template:Use mdy dates Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Smart Technologies[1] (styled as SMART Technologies) is a Canadian company headquartered in Calgary, Alberta, Canada and wholly owned by Foxconn.[1] Founded in 1987, SMART is best known as the developer of interactive whiteboards branded as the "Smart Board" (styled as SMART Board) widely used in education and business.[2]

History

Smart was founded in 1987 by husband and wife David Martin and Nancy Knowlton.[3]

In 1991, Smart introduced its interactive whiteboard, branded the "Smart Board".[4][5]

In 2003, Smart developed and later patented DViT (Digital Vision Touch) technology which was an important feature of the SMART Board.[6]

In 2009, Smart filed a patent infringement lawsuit against New Zealand-based NextWindow[7] before acquiring the company outright in 2010.[8]

On July 15, 2010, Smart Technologies placed an initial public offering on the NASDAQ stock exchange and Toronto Stock Exchange (TSX), raising upwards of $660 million.[9][10] Later that year, several class action complaints were filed against Smart in the U.S. District Courts in New York and Illinois.[11][12] Filed on behalf of the purchasers of the Class A Subordinate Voting Shares in Smart's IPO in July 2010, the complaints alleged that the company did not disclose important information prior to the IPO. A settlement was reached in March 2013.[13]

As of the 2011 fiscal year end, Smart Board interactive whiteboards led the interactive whiteboard category[14] with a 63% share in the United States, 44% share in EMEA (Europe, Middle East and Africa) and 47% share globally.[15]

In 2011, Smart employed about 1,700 people.

In April 2012, amid a declining stock price and sales resulting from decreased school board spending, both Martin and Knowlton resigned from their executive roles at Smart before leaving the board in April 2014.[3]

On December 11, 2012, Smart Technologies announced it would begin corporate restructuring.[16] The company proceeded to lay off 25% of its employees.[17] Then-CEO Neil Gaydon stated that it would save the company approximately $40 million, and cited competition in the market as part of the reason for restructuring.[18]

In 2016, SMART Technologies Inc. was acquired by Foxconn for $200 million.[19]


References

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  1. ↑ a b Script error: No such module "citation/CS1".
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ a b Script error: No such module "citation/CS1".
  4. ↑ "Google releases Jamboard, a high-tech whiteboard for office meetings" Template:Webarchive. Toronto Star, November 12, 2016. pageB4. Steven Overly.
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ GOLIATH: Business Knowledge on Demand Template:Webarchive Smart Digital Vision Touch technology, 1 November 2003
  7. ↑ Business Standard Template:Webarchive SMART Files Patent Infringement Against NextWindow, 3 April 2009
  8. ↑ Innovative Interactivity (II) Template:Webarchive SMART Technologies' acquisition of NextWindow: A "smart window" to the world, 6 May 2010
  9. ↑ Yahoo! Canada Finance Template:Webarchive Smart Technologies Inc. Raises $660 Million in IPO on The NASDAQ Stock Market, Largest IPO of 2010, 16 July 2010
  10. ↑ Bloomberg Template:Webarchive Smart Technologies Raises $660 Million in Second-Biggest U.S. IPO of 2010, 15 July 2010
  11. ↑ "Smart Technologies Inc hit by investor lawsuit over alleged securities laws violations" Template:Webarchive. PRLOG. December 6, 2010.
  12. ↑ "Izard Nobel LLP Announces Class Action Lawsuit Against Smart" Template:Webarchive. Bloomberg News. December 13, 2010.
  13. ↑ Settlement agreement of class action lawsuit Template:Webarchive Ontario Court of Justice
  14. ↑ nbcnews.com SMART Increases Interactive Whiteboard Product Category Share, 20 May 2011
  15. ↑ http://files.shareholder.com/downloads/ABEA-4CUEER/0x0x469964/e5d5ed0b-029d-4b61-b35f-544ba8bd3bc4/SMT_News_2011_5_20_General_Releases.pdf Template:Webarchive Interactive Displays / ICT Products Market: Quarterly Insight State of the Market Report, Quarter 4 2010, 31 March 2011.
  16. ↑ "SMART Announces Corporate Restructuring" Template:Webarchive. Smart Technologies.
  17. ↑ "Layoffs at SMART Technologies Inc." Template:Webarchive CBC. December 11, 2012
  18. ↑ "Calgary's SMART Technologies to lay off 25% of staff" . CBC. December 11, 2012
  19. ↑ Script error: No such module "citation/CS1".

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External links

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