SMART to Exit Ottawa Facility
Calgary, AB --- March 4, 2014 --- SMART Technologies Inc. (NASDAQ: SMT) (TSX: SMA), a leading provider of collaboration solutions, will exit its leased Ottawa facility effective August 31, 2014. Following the office closure, SMART will no longer have a business location in Ottawa. Approximately 10% of SMART’s workforce will be affected, with many being offered alternate work arrangements, including relocation to other SMART offices. The annual cost saving to the company of the exit is approximately $3 million, and the one-time cash impact of the exit is estimated at $8 million.