Apax Partners' SMART Technologies, which designs interactive technology products including its SMART Board for the education sector, filed on Thursday with the SEC to raise up to $731 million in an initial public offering. The Canada-based company, which first introduced the SMART Board in 1991 and has since shipped 1.6 million units, booked $648 million in sales for the 12 months ended March 31. SMART Technologies plans to list on the NASDAQ under the symbol SMT and has also filed to list on the Toronto Stock Exchange under the symbol SMA. Morgan Stanley, Deutsche Bank Securities and RBC Capital Markets are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
