Smart Technologies

Smart Technologies Corporation

Type	Public
Traded as	TSX: SMA NASDAQ: SMT
Industry	Computer technology Computer software
Founded	1987
Founder	David Martin Nancy Knowlton[1]
Headquarters	Calgary, AB, Canada
Area served	Worldwide
Key people	Neil Gaydon (CEO)[2]
Products	Interactive whiteboards, student response system, wireless slates, interactive pen displays, interactive digital signage, conferencing software, classroom management software, concept-mapping software
Revenue	$589.2 million USD (2014)
Net income	$20.5 million USD (2014) [3]
Number of employees	900
Slogan	Inspired CollaborationTM
Website	www.smarttech.com

Smart Technologies Corporation is a publicly traded company headquartered in Calgary, Alberta, Canada. Founded in 1987, Smart Technologies is best known as the developer of the Smart Board interactive whiteboard. As of the 2011 fiscal year end, Smart Board interactive whiteboards lead the interactive whiteboard category^[4] with a 63% share in the United States, 44% share in EMEA (Europe, Middle East and Africa) and 47% share globally.^[5] Interactive Displays / ICT Products Market: Quarterly Insight State of the Market Report, Quarter 4 2010, 31 March 2011. On July 15, 2010, Smart Technologies placed an initial public offering (IPO).^[6]

In 2011, the Smart Technologies Headquarters in Calgary, Alberta, received Leadership in Energy and Environmental Design (LEED) Gold standard certification.^[7]

History

Smart Technologies introduced the first Smart Board interactive whiteboard in 1991.^[8] It was the first interactive whiteboard to provide touch control of computer applications and annotation over standard Microsoft Windows applications.^[9] In 2003, Smart developed and later patented DViT (Digital Vision Touch) technology.^[10][11] This camera-based touch technology for interactive whiteboards and interactive displays uses digital cameras and proprietary software and firmware to detect finger or pen contact with the screen. That contact is then interpreted as finger or pen activity.

In 2009, Smart filed a patent infringement lawsuit against New Zealand-based NextWindow^[12] before acquiring the company outright in 2010.^[13] As of fiscal year end 2010, Smart Technologies holds more than 150 issued patents^[14] with more than 600 patents pending.^[15][16] In 2011, Smart Technologies celebrated the 20th anniversary of the Smart Board interactive whiteboard, which coincided with the installation of the two millionth interactive whiteboard.^[17] As of October 2011, Smart employs more than 1,700 people. Smart products are sold through dealers across North America and through distributors in countries around the world.^[18]

Smart Technologies is a publicly traded company headquartered in Calgary, Alberta, Canada. In 1992, Smart formed a strategic alliance with Intel Corporation which resulted in joint product development and marketing efforts and Intel’s ongoing equity ownership in Smart. Smart first received ISO 9001^[19] certification in 1998 and most recently renewed this registration in July, 2009.^[20] In 2000, Smart opened its first office outside North America in Bonn, Germany. Additional offices were opened in Washington, D.C. (2001), Tokyo (2001), New York City (2002), Chicago (2006), Shanghai (2006), Paris (2009) and Seattle (2014).^[21]

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.^[22]

On December 11, 2012, SMART Technologies announced it would begin corporate restructuring.^[23] The company proceeded to lay off 25% of its employees.^[24] The new CEO Neil Gaydon stated that it would save the company approximately $40 million, and cited competition in the market is also part of the reason for restructuring.^[25]

Legal issues

In 2010, several class action complaints were filed against SMART in the U.S. District Courts in New York and Illinois.^[26][27] 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. In March 2013 a settlement was reached.^[28]

Products

Hardware

The company supplies varieties of the Smart Board interactive whiteboard, Smart Board interactive flat-panel display and SMART Room System for Microsoft Lync. In 2014 the SMART kapp interactive capture board was released. Other previous releases include the Smart Podium interactive pen display, Smart Response interactive response system, Smart Table interactive learning center, Smart Document Camera and Smart Slate wireless slate, and standard accessories.

Software

The company supplies software for use with its Smart Board and other hardware, such as

• Smart Notebook collaborative learning software, which allows users to compile images and other media into virtual notebooks.
• Smart Notebook Math Tools is an add-on to Smart Notebook and includes virtual math tools, including a ruler, compass and a protractor
• Smart Sync classroom management software (formerly SynchronEyes) allows teachers to monitor what each student is doing on a student computer
• Smart Response interactive response system allows students to answer questions posed by questions using various devices, such as specialized hardware remotes, computers, and smartphone applications.
• Smart Ideas concept-mapping software is a multi-level concept mapping software
• Bridgit conferencing software is a data conferencing software that connects multiple parties across distances and allows users to share their desktop/laptop or interactive whiteboard screen with all participants. Smart Bridgit includesVoIP, webcam capability and digital ink.
• Smart Meeting Pro software is a collaborative meeting software that connects two or more desktops/laptops or interactive whiteboards in the same meeting room, or across distances when using Bridgit.
• Smart Vantage technology management software allows for centralized administration and management of Smart's hardware products.

References

External links

• Official Site
• Smart Technologies Investor Relations
• NextWindow
• Smart Technologies company profile on AECinfo.com