Calgary's SMART Technologies files for $730 Million IPO

by Rob Lewis | Business

Calgary's SMART Technologies filed with U.S. regulators today to raise up to $730.7 million in an initial public offering of common stock.

The company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley, Deutsche Bank Securities, RBC Capital Markets, Bank of America Merrill Lynch, Credit Suisse, CIBC, Cowen and Co, Piper Jaffray and Thomas Weisel Partners were underwriting the IPO.

The filing did not reveal how many shares SMART planned to sell or their expected price.

In March 2010 Techvibes reported that SMART was on the verge of raising $400 Million within 3-4 months.

Smart is run by co-founders Nancy Knowlton, the chief executive officer, and David Martin, the chairman. They founded the company in 1987 as the Canadian distributor for a U.S. projector maker, then started doing their own research and development, producing their first whiteboard in 1991. The couple remain substantial minority shareholders. Other minority investors include private equity firm Apax Partners and the VC arm of Intel Corp.

With 1.2 Million of its whiteboards hanging in classrooms and offices, SMART sells more units each year than all its competitors combined.

SMART Technologies Inc.
Calgary, Alberta, Canada

SMART's family of products facilitate the collaboration process, whether a group is in the same room or located around the world. All SMART solutions are designed to be very easy to use and the product line has a variety of configurations to suit a range of customer needs. The SMART Board and Rear Projection SMART Board are interactive whiteboards that allow instructors, trainers and meeting... more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more

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