Represents First Agreement for APAC Market and First Cross-Selling Success within Casino Gaming Industry for Revolutionary Restaurant and Food Service Back-of-House Ecosystem
HAMDEN, Conn.--(BUSINESS WIRE)--Jul. 1, 2019--
TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced its first ever agreement to deploy the Company’s BOHA!™ solution in the Asia-Pacific market as well as with an operator in the casino gaming industry. The new agreement, with a leading Macau casino resort, will include the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (TEMS) as well as the sale of 100 BOHA! Terminals for deployment in all of the casino resort’s kitchens. The Company will also sell its TransAct Labels specifically designed to work with the thermal printers featured in the BOHA! Terminal.
TransAct believes the annual recurring average revenue per unit (“ARPU”) related to this BOHA! solution agreement will be at least $1,200 per year. The BOHA! solution rollout at the property is expected to occur over the next three to four months.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “In a very short period of time following its introduction in March, our revolutionary BOHA! SaaS-based software and hardware ecosystem is quickly gaining traction across restaurant and foodservice operations of all types and sizes. Given the variety of menu offerings and many different restaurant venues featured in a large-scale casino resort environment, this agreement to deploy BOHA! in all kitchens at a leading Macau casino resort speaks very highly to the flexibility and advantages offered by our industry-unique solution. This agreement also provides evidence of the global market opportunity that exists for BOHA! as well as our ability to leverage our leading market position in the casino gaming industry as we begin to execute on what we believe are a number of cross-selling opportunities. We have a clear vision for how BOHA! can revolutionize back-of-house automation for restaurant and foodservice operators around the world and with each new agreement this vision is becoming clearer as we execute on opportunities that can generate solid initial hardware sales and deliver growing attractive annual and recurring revenue.”
BOHA! is the first single-vendor solution to combine applications for Inventory Management, Temperature Monitoring of Food and Equipment, Timers, 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.
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, and oil and gas. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!™, AccuDate™, EPICENTRAL®, Epic®, Ithaca® and Printrex® brands. TransAct has sold over 3.3 million printers and terminals 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.
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Source: TransAct Technologies Incorporated
Investor Contact:
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
