Annual Recurring Revenue Per Unit is Estimated to be at least $500 per year
HAMDEN, Conn.--(BUSINESS WIRE)--Jul. 21, 2020--
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 that it has secured a new BOHA! agreement with one of the largest regional convenience store operators. The company expects to deploy the BOHA! system in six of their approximate 300 locations to start and gradually expand to all food service locations by the end of 2022.
“We are thrilled to be working with this convenience store operator as they begin to implement our BOHA! solutions in their most important fresh food market concept,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “We are especially excited about this relationship because they will be implementing the broader BOHA! solution set including the BOHA! Temp and Sense app. These BOHA! apps will allow the customer to record temperatures of prepared food items, digitize HACCP logs, review data and analytics remotely, and automatically monitor the temperature of food and beverage holding units in-store. Our industry leading BOHA! solutions are the perfect partner to assist with this new effort and we look forward to working with them to ensure they are providing consistently fresh, safe, and compliant packaged foods that customers demand in today’s dynamic world.”
The complete system deployment will include BOHA! Temp and BOHA! Sense apps alongside BOHA! Sensors, BOHA! Gateways, Temperature Probes and BOHA! Tablets. This regional convenience store chain will use the BOHA! ecosystem to support the growth of their new fresh food offerings. TransAct estimates total annual recurring revenue per unit (“ARPU”) per site will be at least $500 per year.
This regional convenience store operator is also testing our core BOHA! Terminal alongside the BOHA!™ Labeling SaaS-based app and TransAct Enterprise Management System (“TEMS”) as well as TransAct custom designed labels.
BOHA! is the first single-vendor solution to combine applications for Food Safety Labeling, Temperature Monitoring of Food and Equipment, Inventory Management, Timers, Food Recalls, Checklists & Procedures, Equipment Service Management and Delivery Management in one 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. BOHA! Terminal TEMS ensures 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/m/restaurant-solutions/.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, POS automation, , 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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Investor Contact:
Michael Bowen
ICR, Inc.
Michael.Bowen@icrinc.com
203-682-8299
Marc P. Griffin
ICR, Inc.
Marc.Griffin@icrinc.com
646-277-1290
Source: TransAct Technologies Incorporated
