SMART Technologies sees change in ownership structure
SMART Technologies Inc (NASDAQ: SMT) (TSX: SMA) has announced that founders David Martin and Nancy Knowlton have resigned from the company's board of directors. This resulted in all of the company's Class B shares being converted into single vote Class A subordinate voting shares. Following this change, U.K.-based private equity firm Apax Partners holds 31.1% of all Class A shares, Martin and Knowlton hold 23.5%, and Intel Corp holds 14.4%. The Calgary-based SMART Technologies is a developer of electronic whiteboards used for education and business applications. Apax took a minority position in the company in 2007. SMART Technologies went public in 2010.
21 April 2014•4 mins read
