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SMART Technologies: News Release Dated October 9, 2015

The following excerpt is from the company's SEC filing.

Exhibit 99.1

MEDIA RELEASE

SMART Updates Financial Outlook and Announces Strategic Review

CALGARY, Oct. 9, 2015 /CNW/ - SMART Technologies Inc. (NASDAQ: SMT) (TSX: SMA), a leading provider of collaboration solutions, today provided an update on its financial outlook for the balance of fiscal 2016, and announced its intent to embark on a strategic review.

Although new solutions are generating a growing share of total revenue, sales from SMART kapp are growing at a slower rate than originally envisaged, and as a result, the outlook for fiscal 2016 will be weaker than anticipated. Addition al information will be provided in the Company's Q2 earnings release.

Given the change in outlook, management has taken decisive action to significantly reduce expenses, primarily relating to kapp sales and marketing activities and related R&D spend, while protecting core education and enterprise business operations and associated R&D activities. The new operating model is expected to be in place before calendar year end. These actions are anticipated to result in the company having sufficient liquidity and cash flow neutrality for fiscal year 2017.

In addition to significantly aligning the Company's operating model to focus on profitable and growing businesses, the Board is embarking on a strategic review and has retained Evercore Partners as its financial advisor to assist in this process.

The Board will consider alternatives to improve value for all shareholders. Initiatives that could be considered include, but are not limited to:...


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