Smart Technologies

Smart Technologies Corporation
Subsidiary
Traded as TSX: SMA
NASDAQ: SMT
Industry Computer technology
Computer software
Founded 1987 (1987)
Founder David Martin
Nancy Knowlton
Headquarters Calgary, Alberta, Canada
Area served
 Worldwide
Key people
 Neil Gaydon (CEO)
Products Interactive whiteboards, student response system, wireless slates, interactive pen displays, interactive digital signage, conferencing software, classroom management software, concept-mapping software
Revenue $492.9million USD (FY2015)

$24.1 million USD (FY2015)

[1]
Number of employees
 795
Parent Foxconn
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.[2] Smart products are sold through dealers across North America and through distributors in countries around the world.

History

Smart Technologies introduced the first Smart Board interactive whiteboard in 1991.[3] It was the first interactive whiteboard to provide touch control of computer applications and annotation over standard Microsoft Windows applications. In 2003, Smart developed and later patented DViT (Digital Vision Touch) technology.[4] 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 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[5] certification in 1998 and most recently renewed this registration in July, 2009. 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).

In 2009, Smart filed a patent infringement lawsuit against New Zealand-based NextWindow[6] before acquiring the company outright in 2010.[7]

As of fiscal year end 2010, Smart Technologies holds more than 150 issued patents with more than 600 patents pending.[8][9] 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.

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.[10][11] Later that year, several class action complaints were filed against SMART in the U.S. District Courts in New York and Illinois.[12][13] 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.[14]

In 2011, the Smart Technologies Headquarters in Calgary, Alberta, received Leadership in Energy and Environmental Design (LEED) Gold standard certification.[15]

As of the 2011 fiscal year end, Smart Board interactive whiteboards led the interactive whiteboard category[16] with a 63% share in the United States, 44% share in EMEA (Europe, Middle East and Africa) and 47% share globally.[17] Interactive Displays / ICT Products Market: Quarterly Insight State of the Market Report, Quarter 4 2010, 31 March 2011.

In 2011, Smart employed about 1,700 people. On December 11, 2012, SMART Technologies announced it would begin corporate restructuring. [18] The company proceeded to lay off 25% of its employees.[19] 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.[20]

Products

Hardware

The company supplies varieties of the Smart Board interactive whiteboard,[2] Smart Board interactive flat-panel display and SMART Room System for Microsoft Lync / Skype for Business. In 2014 the SMART kapp digital capture board was released, and in 2015, the company introduced SMART kapp iQ ultra HD display.

Software

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

References

  1. ↑ "SMART Technologies - Annual Reports" (PDF). SMART. Retrieved 2015-07-07.
  2. 1 2 Hasso Plattner; Christoph Meinel; Larry Leifer (13 December 2010). Design Thinking: Understand – Improve – Apply. Springer Science & Business Media. pp. 157–. ISBN 978-3-642-13757-0.
  3. ↑ "Google releases Jamboard, a high-tech whiteboard for office meetings". Toronto Star, November 12, 2016. pageB4. Steven Overly.
  4. ↑ GOLIATH: Business Knowledge on Demand Smart Digital Vision Touch technology, 1 November 2003
  5. ↑ ISO: International Organization for Standardization
  6. ↑ Business Standard SMART Files Patent Infringement Against NextWindow, 3 April 2009
  7. ↑ Innovative Interactivity (II) SMART Technologies' acquisition of NextWindow: A "smart window" to the world, 6 May 2010
  8. ↑ Canadian Intellectual Property Office Canadian Patents Database
  9. ↑ United States Patent and Trademark Office USPTO Patent Database
  10. ↑ Yahoo! Canada Finance Smart Technologies Inc. Raises $660 Million in IPO on The NASDAQ Stock Market, Largest IPO of 2010, 16 July 2010
  11. ↑ Bloomberg Smart Technologies Raises $660 Million in Second-Biggest U.S. IPO of 2010, 15 July 2010
  12. ↑ "Smart Technologies Inc hit by investor lawsuit over alleged securities laws violations". PRLOG. December 6, 2010.
  13. ↑ "Izard Nobel LLP Announces Class Action Lawsuit Against Smart". Bloomberg News. December 13, 2010.
  14. ↑ Settlement agreement of class action lawsuit Ontario Court of Justice
  15. ↑ Calgary Herald Smart HQ Receives LEED Gold Standard Certification
  16. ↑ MSNbc.com SMART Increases Interactive Whiteboard Product Category Share, 20 May 2011
  17. ↑ http://files.shareholder.com/downloads/ABEA-4CUEER/0x0x469964/e5d5ed0b-029d-4b61-b35f-544ba8bd3bc4/SMT_News_2011_5_20_General_Releases.pdf
  18. ↑ "SMART Announces Corporate Restructuring". Smart Technologies.
  19. ↑ "Layoffs at SMART Technologies Inc." CBC. December 11, 2012
  20. ↑ "Calgary's SMART Technologies to lay off 25% of staff". CBC. December 11, 2012
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