{{Short description|Technology company}} {{Redirect|Smart board|other uses|interactive whiteboard}} {{Use Canadian English|date = January 2019}} {{Use mdy dates|date = January 2019}} {{Infobox company | name = Smart Technologies ULC | logo = SMART Technologies logo richblack.jpg | logo_caption = | logo_size = 160px | type = Unlimited liability corporation | parent = Foxconn | foundation = {{start date and age|1987}} | founder = David Martin <br/> Nancy Knowlton | num_employees = 795 | area_served = Worldwide | key_people = Nicholas Svensson (CEO) | industry = Computer technology<br />Computer software | products = Interactive whiteboards | revenue = {{US$|492.9 million|link=yes}} ({{abbr|FY|fiscal year}}2015) | net_income = {{US$|24.1 million}} (FY2015)<ref>{{cite news | url=http://files.shareholder.com/downloads/ABEA-4CUEER/174789861x0x837795/8553C4BC-C9A4-48B3-9698-5E671C0F4AD3/FY15_ANNUAL_REPORT.pdf | title=SMART Technologies - Annual Reports | publisher=SMART | access-date=2015-07-07 | archive-date=July 8, 2015 | archive-url=https://web.archive.org/web/20150708121852/http://files.shareholder.com/downloads/ABEA-4CUEER/174789861x0x837795/8553C4BC-C9A4-48B3-9698-5E671C0F4AD3/FY15_ANNUAL_REPORT.pdf | url-status=live }}</ref> | homepage = {{URL|smarttech.com}} }} '''Smart Technologies'''<ref name="20-F">{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1489147/000119312516615485/d125028d20f.htm|title=20-F|website=www.sec.gov|access-date=2019-08-27|archive-date=August 27, 2019|archive-url=https://web.archive.org/web/20190827021831/https://www.sec.gov/Archives/edgar/data/1489147/000119312516615485/d125028d20f.htm|url-status=live}}</ref> (styled as '''SMART Technologies''') is a Canadian company headquartered in Calgary, Alberta, Canada and wholly owned by Foxconn.<ref name="20-F"/> 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.<ref name="PlattnerMeinel2010">{{cite book|author1=Hasso Plattner|author2=Christoph Meinel|author3=Larry Leifer|title=Design Thinking: Understand – Improve – Apply|url=https://books.google.com/books?id=LAbIwOwHz1MC&pg=PA157|date=13 December 2010|publisher=Springer Science & Business Media|isbn=978-3-642-13757-0|pages=157–|access-date=November 19, 2016}}</ref>
==History== Smart was founded in 1987 by husband and wife David Martin and Nancy Knowlton.<ref name=":0">{{Cite news|title=SMART founders setting a new course|work=Calgary Herald|url=https://calgaryherald.com/business/smart-founders-setting-a-new-course|access-date=May 3, 2021|archive-date=April 23, 2021|archive-url=https://web.archive.org/web/20210423051728/https://calgaryherald.com/business/smart-founders-setting-a-new-course|url-status=live}}</ref>
In 1991, Smart introduced its interactive whiteboard, branded the "Smart Board".<ref>[https://www.thestar.com/business/2016/11/12/google-releases-jamboard-a-high-tech-whiteboard-for-office-meetings.html "Google releases Jamboard, a high-tech whiteboard for office meetings"] {{Webarchive|url=https://web.archive.org/web/20170608171055/https://www.thestar.com/business/2016/11/12/google-releases-jamboard-a-high-tech-whiteboard-for-office-meetings.html |date=June 8, 2017 }}. ''Toronto Star'', November 12, 2016. pageB4. Steven Overly.</ref><ref>{{cite news|last1=Liebrecht|first1=Deia|title=West Area Gets Smart With Technology|url=http://www.theledger.com/news/20071127/west-area-gets-smart-with-technology|work=The Ledger|date=November 27, 2007|language=en|access-date=April 6, 2018|archive-date=July 17, 2018|archive-url=https://web.archive.org/web/20180717185725/http://www.theledger.com/news/20071127/west-area-gets-smart-with-technology|url-status=live}}</ref>
In 2003, Smart developed and later patented DViT (Digital Vision Touch) technology which was an important feature of the SMART Board.<ref>[http://goliath.ecnext.com/coms2/gi_0199-1181973/SMART-Digital-Vision-Touch-technology.html GOLIATH: Business Knowledge on Demand] {{Webarchive|url=https://web.archive.org/web/20110615043214/http://goliath.ecnext.com/coms2/gi_0199-1181973/SMART-Digital-Vision-Touch-technology.html |date=June 15, 2011 }} Smart Digital Vision Touch technology, 1 November 2003</ref>
In 2009, Smart filed a patent infringement lawsuit against New Zealand-based NextWindow<ref>[http://www.business-standard.com/india/news/smart-files-patent-infringement-lawsuit-against-nextwindow/353901/ Business Standard] {{Webarchive|url=https://web.archive.org/web/20100503020220/http://www.business-standard.com/india/news/smart-files-patent-infringement-lawsuit-against-nextwindow/353901/ |date=May 3, 2010 }} SMART Files Patent Infringement Against NextWindow, 3 April 2009</ref> before acquiring the company outright in 2010.<ref>[http://www.innovativeinteractivity.com/2010/05/06/smart-technologies-acquires-nextwindow/ Innovative Interactivity (II)] {{Webarchive|url=https://web.archive.org/web/20110710001907/http://www.innovativeinteractivity.com/2010/05/06/smart-technologies-acquires-nextwindow/ |date=July 10, 2011 }} SMART Technologies' acquisition of NextWindow: A "smart window" to the world, 6 May 2010</ref>
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.<ref>[http://ca.us.biz.yahoo.com/pz/100716/196686.html?.v=1 Yahoo! Canada Finance] {{webarchive|url=https://web.archive.org/web/20110926192345/http://ca.us.biz.yahoo.com/pz/100716/196686.html?.v=1 |date=2011-09-26 }} Smart Technologies Inc. Raises $660 Million in IPO on The NASDAQ Stock Market, Largest IPO of 2010, 16 July 2010</ref><ref>[https://www.bloomberg.com/news/2010-07-15/smart-technologies-raises-660-million-in-second-biggest-u-s-ipo-of-2010.html Bloomberg] {{Webarchive|url=https://web.archive.org/web/20121105161702/http://www.bloomberg.com/news/2010-07-15/smart-technologies-raises-660-million-in-second-biggest-u-s-ipo-of-2010.html |date=November 5, 2012 }} Smart Technologies Raises $660 Million in Second-Biggest U.S. IPO of 2010, 15 July 2010</ref> Later that year, several class action complaints were filed against Smart in the U.S. District Courts in New York and Illinois.<ref>[http://www.prlog.org/11127411-smart-technologies-inc-hit-by-investor-lawsuit-over-alleged-securities-laws-violations.html "Smart Technologies Inc hit by investor lawsuit over alleged securities laws violations"] {{Webarchive|url=https://web.archive.org/web/20121005130003/http://www.prlog.org/11127411-smart-technologies-inc-hit-by-investor-lawsuit-over-alleged-securities-laws-violations.html |date=October 5, 2012 }}. PRLOG. December 6, 2010.</ref><ref>[https://www.bloomberg.com/apps/news?pid=conewsstory&tkr=2SA:GR&sid=a9MfmocNRTbc "Izard Nobel LLP Announces Class Action Lawsuit Against Smart"] {{Webarchive|url=https://web.archive.org/web/20150924083543/http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=2SA:GR&sid=a9MfmocNRTbc |date=September 24, 2015 }}. Bloomberg News. December 13, 2010.</ref> 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.<ref>[http://www.classaction.ca/CMSFiles/pdf/Securities/SMART/Stipulation_and_Settlement_Agreement.PDF Settlement agreement of class action lawsuit] {{Webarchive|url=https://web.archive.org/web/20140224054232/http://www.classaction.ca/CMSFiles/pdf/Securities/SMART/Stipulation_and_Settlement_Agreement.PDF |date=February 24, 2014 }} Ontario Court of Justice</ref>
As of the 2011 fiscal year end, Smart Board interactive whiteboards led the interactive whiteboard category<ref>[https://www.nbcnews.com/id/wbna43107545 nbcnews.com] SMART Increases Interactive Whiteboard Product Category Share, 20 May 2011</ref> with a 63% share in the United States, 44% share in EMEA (Europe, Middle East and Africa) and 47% share globally.<ref>http://files.shareholder.com/downloads/ABEA-4CUEER/0x0x469964/e5d5ed0b-029d-4b61-b35f-544ba8bd3bc4/SMT_News_2011_5_20_General_Releases.pdf {{Webarchive|url=https://web.archive.org/web/20150103234509/http://files.shareholder.com/downloads/ABEA-4CUEER/0x0x469964/e5d5ed0b-029d-4b61-b35f-544ba8bd3bc4/SMT_News_2011_5_20_General_Releases.pdf |date=January 3, 2015 }} Interactive Displays / ICT Products Market: Quarterly Insight State of the Market Report, Quarter 4 2010, 31 March 2011.</ref>
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.<ref name=":0" />
On December 11, 2012, Smart Technologies announced it would begin corporate restructuring.<ref>[http://www.integratednetworkcable.com/smart-board-installation/reflecting-on-smart-announces-corporate-restructuring "SMART Announces Corporate Restructuring"] {{webarchive|url=https://web.archive.org/web/20150614101731/http://www.integratednetworkcable.com/smart-board-installation/reflecting-on-smart-announces-corporate-restructuring |date=2015-06-14 }}. Smart Technologies.</ref> The company proceeded to lay off 25% of its employees.<ref>[http://www.cbc.ca/player/Shows/ID/2315040426/ "Layoffs at SMART Technologies Inc."] {{Webarchive|url=https://web.archive.org/web/20140223162321/http://www.cbc.ca/player/Shows/ID/2315040426/ |date=February 23, 2014 }} CBC. December 11, 2012</ref> 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.<ref>[https://www.cbc.ca/news/canada/calgary/calgary-s-smart-technologies-to-lay-off-25-of-staff-1.1143030 "Calgary's SMART Technologies to lay off 25% of staff"] . CBC. December 11, 2012</ref>
In 2016, SMART Technologies Inc. was acquired by Foxconn for $200 million.<ref>{{Cite news|url=https://calgaryherald.com/business/local-business/smart-technologies-to-be-acquired-by-chinas-foxconn-technology-group|title=SMART Technologies to be acquired by Taiwan's Foxconn Technology Group|date=2016-05-26|work=Calgary Herald|access-date=2018-02-11|language=en-US|archive-date=June 4, 2018|archive-url=https://web.archive.org/web/20180604095254/http://calgaryherald.com/business/local-business/smart-technologies-to-be-acquired-by-chinas-foxconn-technology-group|url-status=live}}</ref>
==References== {{Reflist}}
== External links == * [http://www.smarttech.com/ Official Site] * [http://downloads.smarttech.com/media/corporate/pdf/smart%20corpidguide%20v3.3.pdf/ Corporate Logo Guide] * [https://www.classroom365.co.uk/interactive-touchscreens/smart-boards/ SMART Boards for Schools]
{{Foxconn}} {{Authority control}}
Category:1987 establishments in Alberta Category:2016 mergers and acquisitions Category:Apax Partners companies Category:Canadian companies established in 1987 Category:Canadian subsidiaries of foreign companies Category:Companies based in Calgary Category:Companies formerly listed on the Toronto Stock Exchange Category:Computer companies established in 1987 Category:Computer companies of Canada Category:Computer hardware companies Category:Display technology companies Category:Foxconn subsidiaries