CALGARY, Sept. 9, 2016 /CNW/ - SMART Technologies Inc.
(NASDAQ: SMT) (TSX: SMA) ("SMART" or the "Company"), a leading
provider of education and business collaboration solutions,
provides the following update on its previously announced
arrangement involving Foxconn Technology Group ("Foxconn") and the
shareholders of the Company pursuant to a plan of arrangement under
the Business Corporations Act (Alberta) (the "Arrangement").
All conditions to closing of the Arrangement pursuant to the
arrangement agreement dated as of May 26,
2016 between SMART and Foxconn (the "Arrangement Agreement")
capable of being satisfied prior to closing have been satisfied.
The parties are in the process of negotiating a short extension to
the closing date contemplated under the Arrangement Agreement to
facilitate funding of the cash consideration payable by Foxconn
under the Arrangement. SMART anticipates closing of the Arrangement
will occur by no later than September 14,
2016.
About SMART
SMART Technologies Inc. (NASDAQ: SMT, TSX:
SMA) is a world leader in simple and intuitive solutions that
enable more natural collaboration. We are an innovator in
interactive touch technologies and software that inspire
collaboration in both education and business around the globe. To
learn more, visit smarttech.com.
SMT – F
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release are expressly qualified by this cautionary
statement.
©2016 SMART Technologies Inc. All
third-party product and company names are for identification
purposes only and may be trademarks of their respective owners. To
view a list of SMART trademarks please visit our Trademarks and
Guidelines page.
Please note that SMART is written in all capital
letters.
SOURCE SMART Technologies Inc.