Smart Technologies

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Smart Technologies Corporation
Type Public
Traded as TSXSMA
NASDAQSMT
Industry Computer technology
Computer software
Founded 1987
Founders 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 Increase$589.2 million USD (2014)
Net income

$20.5 million USD (2014)

[3]
Employees 900
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] 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[edit]

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) and Paris (2009).[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.[dead link][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[edit]

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[edit]

Hardware[edit]

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[edit]

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[edit]

  1. ^ "Board of Directors". SMART Technologies. Retrieved November 26, 2012. 
  2. ^ "Executive Biographies". SMART Technologies. Retrieved November 26, 2012. 
  3. ^ "SMART Technologies - Annual Reports". SMART. Retrieved 2014-06-01. 
  4. ^ MSNbc.com SMART Increases Interactive Whiteboard Product Category Share, 20 May 2011
  5. ^ Futuresource Consulting Interactive Displays / ICT Products Market: Quarterly Insight State of the Market Report, Quarter 4 2010, 31 March 2011.
  6. ^ Yahoo! Canada Finance Smart Technologies Inc. Raises $660 Million in IPO on The NASDAQ Stock Market, Largest IPO of 2010, 16 July 2010
  7. ^ Calgary Herald Smart HQ Receives LEED Gold Standard Certification
  8. ^ Smart Technologies About Us - Company Info - Product Milestones
  9. ^ Smart Technologies About Us - Company Info - History
  10. ^ GOLIATH: Business Knowledge on Demand Smart Digital Vision Touch technology, 1 November 2003
  11. ^ The Free Dictionary by FARLEX DViT
  12. ^ Business Standard SMART Files Patent Infringement Against NextWindow, 3 April 2009
  13. ^ Innovative Interactivity (II) SMART Technologies' acquisition of NextWindow: A "smart window" to the world, 6 May 2010
  14. ^ Smart Technologies Smart Technologies Patent listing by product
  15. ^ Canadian Intellectual Property Office Canadian Patents Database
  16. ^ United States Patent and Trademark Office USPTO Patent Database
  17. ^ AMEinfo.com Smart installs two millionth Smart Board interactive whiteboard, 4 July 2011
  18. ^ Smart Technologies Where To Buy
  19. ^ ISO: International Organization for Standardization
  20. ^ AlbertaWire Tags: ISO 9001, Smart
  21. ^ "Smart Quick facts and stats". Smart Technologies. Retrieved February 10, 2014.
  22. ^ Bloomberg Smart Technologies Raises $660 Million in Second-Biggest U.S. IPO of 2010, 15 July 2010
  23. ^ "SMART Announces Corporate Restructuring". Smart Technologies.[dead link]
  24. ^ "Layoffs at SMART Technologies Inc."CBC. December 11, 2012
  25. ^ "Calgary's SMART Technologies to lay off 25% of staff". CBC. December 11, 2012
  26. ^ "Smart Technologies Inc hit by investor lawsuit over alleged securities laws violations". PRLOG. December 6, 2010.
  27. ^ "Izard Nobel LLP Announces Class Action Lawsuit Against Smart". Bloomberg News. December 13, 2010.
  28. ^ http://www.classaction.ca/CMSFiles/pdf/Securities/SMART/Stipulation_and_Settlement_Agreement.PDF

External links[edit]