Company Begins Sales of Revolutionary BOHA!™ Branded Cloud-Based Apps
and Hardware Solutions to Broad Range of Restaurant and Foodservice
Customers
HAMDEN, Conn.--(BUSINESS WIRE)--Apr. 17, 2019--
TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the
Company”), a global leader in software-driven technology and printing
solutions for high-growth markets, highlighted today its early sales
success for its revolutionary BOHA!™
ecosystem since the product’s market introduction in March. To date,
TransAct has secured commitments from ten distinct restaurant or
foodservice operators representing a broad mix of customers to deploy
BOHA! solutions in their operations. Related to these initial
commitments, the Company expects to roll-out approximately 240 BOHA!
Terminals over the balance of the year.
The annual recurring revenue related to the above noted BOHA! solution
sales reflects a 1:1 ratio to the one-time hardware related revenue
recognized at the time of the sale. TransAct expects that as the BOHA!
solution continues to gain traction in the marketplace, the ratio of
recurring revenue to one-time hardware related revenue will grow, as
customers include more BOHA! apps in their initial installation or
integrate additional BOHA! apps following deployments.
BOHA! is the first single-vendor solution to combine applications for
Inventory Management, Temperature Monitoring of Food and Equipment, Food
Safety Labeling, Food Recalls, Checklists & Procedures, Equipment
Service Management and Delivery Management in one fully-integrated
platform. Each BOHA! solution combines cloud-based SaaS applications
with hardware and accessories to deliver superior results for critical
back-of-house operations. BOHA! offers a one-stop solution for
restaurants and food service companies to address their current
back-of-house operating requirements while providing a future-ready
platform capable of addressing back-of-house operations as they continue
to evolve. BOHA! Terminal includes TEMS (TransAct Enterprise Management
System) to ensure only approved apps and functions are available on the
device.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said,
“We’re pleased with the industry reception for our revolutionary BOHA!
SaaS-based software and hardware ecosystem since its introduction
just one month ago. It’s clear from these early sales and from the high
level of ongoing customer discussions and customer trials of our BOHA!
solutions that we are at the forefront of offering the restaurant and
foodservice industries a compelling suite of integrated software
applications and hardware solutions to automate their back-of-house
operations. This early level of interest across a broad array of
customer sizes and operational complexity confirms our belief that BOHA!
represents the largest single addressable market opportunity that
TransAct has had in our history.”
TransAct is hosting a product showcase for its BOHA!TM
SaaS-based ecosystem for investors in New York City on April 23 in the
Henry Room at the Lotte New York Palace (455 Madison Ave, New York, NY
10022). Parties interested in attending or interested in seeking
additional information about the event are asked to contact Richard Land
or Jim Leahy of JCIR at tact@jcir.com
or 212/835-8500.
For more information on the Company’s BOHA! ecosystem, please visit www.transact-tech.com/restaurant-solutions/boha.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in developing
software-driven technology and printing solutions for high-growth
markets including restaurant solutions, POS automation, casino and
gaming, lottery, mobile and oil and gas. The Company’s solutions are
designed from the ground up based on customer requirements and are sold
under the BOHA!™, EPICENTRAL®, Epic®, Ithaca®, RESPONDER and Printrex®
brands. TransAct has over 3.0 million printers and terminals installed
around the world and is committed to providing world-class service,
spare parts and accessories to support its installed product base.
Through the TransAct Services Group, the Company also provides customers
with a complete range of supplies and consumable items both online at http://www.transactsupplies.com
and through its direct sales team. TransAct is headquartered in Hamden,
CT. For more information, please visit http://www.transact-tech.com
or call (203) 859-6800.
BOHA! is a trademark of TRANSACT Technologies Incorporated. ©2019
TRANSACT Technologies Incorporated. All rights reserved.
Forward-Looking Statements
Certain statements in this press release include forward-looking
statements. Forward-looking statements generally can be identified by
the use of forward-looking terminology, such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe" or "continue" or the
negative thereof or other similar words. All forward-looking statements
involve risks and uncertainties, including, but not limited to, customer
acceptance and market share gains, both domestically and
internationally, in the face of substantial competition from competitors
that have broader lines of products and greater financial resources; our
competitors introducing new products into the marketplace; our ability
to successfully develop and introduce new products and the acceptance of
such products in the marketplace; our dependence on significant
customers; our dependence on significant vendors; dependence on contract
manufacturers for the assembly of a large portion of our products in
Asia; our ability to protect intellectual property; our ability to
recruit and retain quality employees as the Company grows; our
dependence on third parties for sales outside the United States,
including Australia, New Zealand, Europe, Latin America and Asia; the
economic and political conditions in the United States, Australia, New
Zealand, Europe, Latin America and Asia; marketplace acceptance of new
products; risks associated with foreign operations; the availability of
third-party components at reasonable prices; price wars or other
significant pricing pressures affecting the Company's products in the
United States or abroad; risks associated with potential future
acquisitions; the risk that our new line of food safety and oil and gas
products will not drive increased adoption by customers; and other risk
factors detailed in TransAct's Annual Report on Form 10-K and other
reports filed with the Securities and Exchange Commission. Actual
results may differ materially from those discussed in, or implied by,
the forward-looking statements. The forward-looking statements speak
only as of the date of this release and the Company assumes no duty to
update them to reflect new, changing or unanticipated events or
circumstances.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190417005120/en/
Source: TransAct Technologies Incorporated
Investor:
Steve DeMartino
President and Chief Financial
Officer
TransAct Technologies Incorporated
203-859-6810
Richard Land, Joseph Jaffoni, Jim Leahy
JCIR
212-835-8500 or tact@jcir.com
