Canada has a new technology star coming to public markets, with Calgary-based Smart Technologies reportedly preparing for an initial public offering that could value the company at as much as $2-billion (U.S.).

Smart has made its name as a maker of digital whiteboard technologies that have rapidly become popular in classrooms and boardrooms. The firm was quietly involved in one of the biggest tech deals of the last couple years in Canada when the founders sold a stake to private-equity firm Apax Partners, another deal that RBC advised on.

Now, Bloomberg News is reporting that Apax, investor Intel Capital and the founders are looking at an IPO of as much as 20 per cent of the company. The company has yet to file papers, which means that an offering is at least a few months away.

No word on whether the company will list its shares in Toronto, but for investors lamenting the dearth of reasonable sized Canadian tech plays after a two year period of takeovers and failures eliminated a lot of names, having a Smart deal on the horizon will be an appetizing prospect.