Apax Partners announces retained investment in SMART Technologies Inc.

TORONTO, July 20 /CNW/ - Apax Partners L.P. and Apax Partners Europe Managers Ltd. (collectively, "Apax Partners"), announced today that entities advised by or managed by Apax Partners (being Apax US VII, L.P., the general partner of which is Apax US VII GP, LP, the general partner of which is Apax US VII GP, Ltd., and Apax Europe V (a collective of nine partnerships comprised of Apax Europe V - A, L.P., Apax Europe V - B, L.P., Apax Europe V C GmbH & Co. KG, Apax Europe V - D, L.P., Apax Europe V - E, L.P., Apax Europe V - F, C.V., Apax Europe V - G, C.V., Apax Europe V - 1, LP and Apax Europe V - 2, LP), the general partner of which is Apax Europe V GP, LP, the general partner of which is Apax Europe V GP Co. Limited (collectively, the "Apax Funds")) own 34,795,491 Class B Shares of SMART Technologies Inc. (the "Issuer") following completion of the Issuer's initial public offering and secondary offering of 38,830,000 Class A Subordinate Voting Shares ("Class A Shares") at a price of U.S. $17.00 per Class A Share (the "Offering").

The Issuer's Class B Shares are convertible, at the option of the holder, into Class A Shares on a one-to-one basis. Based on information provided in the Issuer's supplemented PREP prospectus dated July 14, 2010 in respect of the Offering, the Apax Funds own approximately 28.1% of the Issuer's Class A Shares, assuming full conversion of all outstanding Class B Shares into Class A Shares, as at the closing date of the Offering.

The Class B Shares are being held by the Apax Funds for investment purposes. In the future, Apax Partners and/or the Apax Funds may increase or decrease their control and/or ownership in the securities of the Issuer depending on the business and prospects of the Issuer as well as market conditions, whether in the open market, by privately negotiated agreements or otherwise.

SOURCE APAX PARTNERS

For further information: For further information: Further information (including a copy of the early warning report to be filed on SEDAR and made available at www.sedar.com in connection with this transaction) can be obtained by contacting: Apax Partners c/o Todd Fogarty, Kekst and Company, 437 Madison Avenue, 19th Floor, New York, NY, 10022, Tel: (212) 521-4854

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