Annual Recurring Review Per Unit is Estimated at $1,400 per year
HAMDEN, Conn.--(BUSINESS WIRE)--Jan. 28, 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 a new agreement with a 72 location regional office of a national convenience store chain. The complete system deployment will include the BOHA!™ Labeling SaaS-based app and TransAct Enterprise Management System (“TEMS”) alongside the BOHA! Terminal as well as TransAct specifically designed labels. The BOHA! solution will help TransAct’s customers manage its new fresh food offering. As the fresh food program is expanded to new regions, TransAct will market the BOHA! solution to an additional 2,000 stores.
The BOHA! system will be deployed over the next month to all 72 locations. TransAct estimates the total annual recurring review per unit (“ARPU”) per site will be $1,400 per year. The deployment of BOHA! Labeling will satisfy the customer’s immediate labeling needs made necessary by the new FDA labeling laws as well as date code food safety labels. The Company is also working with the regional operator on the evaluation of additional BOHA! apps for potential deployment at a later time.
“Convenience stores are seizing the opportunity to provide their customers with a selection of fresh food as consumer preferences for meals and snacks on-the-go change to favor healthier, less processed options. Our solutions are built to ensure convenience store operators have a simple and reliable way to ensure FDA labeling compliance, food safety and improve productivity for employees managing fresh food offerings,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “Our technology, which is implemented across a wide variety of foodservice models from quick-service restaurants to convenience stores and food service operators has proven to be an integral part of our customers’ business, helping to simplify labor and lower costs. We believe BOHA! Labeling and TEMS will be immensely helpful to these convenience store locations as they work to streamline operations surrounding their new fresh food offering.”
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 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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Source: TransAct Technologies Incorporated
Investor Contact:
Steve DeMartino
President and Chief Financial Officer
TransAct Technologies Incorporated
203-859-6810
Michael Bowen
ICR, Inc.
Michael.Bowen@icrinc.com Marc
203-682-8299
Marc P. Griffin
ICR, Inc.
Griffin@icrinc.com
646-277-1290
