Calgary's SMART Technologies to be acquired by Taiwan's electronics giant Foxconn for US$200 millions

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Calgary-based SMART Technologies, a company best known for its patented interactive whiteboards used in school classrooms around the globe, is hailing a proposed US$200-million acquisition offer by Taiwanese electronics giant Foxconn Technology Group. SMART is undergoing a strategic review due to slower-than-anticipated sales growth and a weaker-than-expected fiscal outlook for 2016, and says the Foxconn deal would be a "new chapter" that will bring with it financial stability and future growth. SMART's vice-president of marketing Jeff Lowe says the deal will let SMART tap into Foxconn's "significant resources" and global expertise.

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