- Agreement Expected to Drive Multi-Year Growth in Global Installed
Base of Epic® Printers and Epicentral® Print System -
HAMDEN, Conn.--(BUSINESS WIRE)--
TransAct Technologies Incorporated (Nasdaq:TACT) ("TransAct"), a global
leader in market-specific solutions, including printers, terminals,
software and other products for transaction-based and other industries,
announced today that it has entered into an exclusive multi-year
agreement with Suzo-Happ Group ("Suzo-Happ") to market and distribute
TransAct casino and gaming printing solutions to casino and gaming
operators in most areas of the world. Suzo-Happ is a leading global
supplier of components and accessories to the gaming, amusement and
industrial markets with over 20,000 customers world-wide. Under the
terms of the agreement, TransAct will be the exclusive gaming printer
solutions provider to Suzo-Happ for their casino and gaming customers
effective immediately. The agreement with Suzo-Happ significantly
expands TransAct's worldwide distribution network, especially in the
United States. Suzo-Happ was previously the exclusive distributor of
another gaming printer manufacturer.
Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct
Technologies, commented, "This new agreement for TransAct to be the
exclusive provider of gaming printer solutions to Suzo-Happ is very
significant for TransAct. Our two teams working together will help drive
significant growth in our installed base of industry-leading Epic®
printers, and for our innovative Epicentral® software system which is
already installed on over 5,000 gaming machines in four casinos. As the
leading distributor of gaming products, with gaming licenses in almost
every jurisdiction, Suzo-Happ's domestic and international reach greatly
expands the number of gaming machines and casinos we can address
including those in many United States jurisdictions. Suzo-Happ clearly
saw the benefit of TransAct's gaming solutions and we are very excited
they have made the change to Transact."
"Our long-term commitment to invest in technology and innovation has
driven solid market share growth for our Epic printers and as a result
they have emerged as the gaming machine printer solution of choice for
operators. With Suzo-Happ deciding to change course and now serve
exclusively as our distribution partner we expect to further our market
share growth going forward. Importantly, partnering with Suzo-Happ
significantly increases the market access for Epicentral, our
easy-to-use, cost-effective promotion and bonusing solution that enables
casino operators to develop and deliver marketing programs and
promotional coupons to customers on a real-time basis directly at the
slot machine. Epicentral is a proven tool for casino operators that at a
minimum drives increased visitation, new enrollment in loyalty programs,
and additional play, leading to higher revenue and solid investment
returns. With Suzo-Happ's established relationships, this new agreement
allows us to further expand the addressable market for Epicentral which
we expect will speed up the pace of deployments."
James Brendel, President and CEO of Suzo-Happ Group, added, "TransAct's
printing solutions are best-in-class and we are thrilled to offer our
customer base their full range of leading-edge products. We believe the
proven benefits of Epicentral will be embraced by our customers as they
seek to engage their players, deliver a rewarding experience and most
importantly help grow their casino's revenue. And our customers will no
doubt appreciate the reliability of TransAct's Epic line of thermal
printers which have become the industry's preferred ticket-in/ticket-out
("TITO") casino printing solutions. Working with TransAct is a natural
next step for Suzo-Happ and we look forward to a mutually beneficial
relationship in the years to come."
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leader in developing and
manufacturing market-specific solutions, including printers, terminals,
software and other products for transaction-based and other industries.
These industries include casino and gaming, lottery, food safety,
banking, point-of-sale, hospitality, oil and gas, and medical and
mobile. Each individual market has distinct, critical requirements for
printing and the transaction is not complete until the receipt and/or
ticket is produced. TransAct printers and products are designed from the
ground up based on market-specific requirements and are sold under the
Ithaca®, Epic, EPICENTRAL® and Printrex® product brands. TransAct
distributes its printers through OEMs, value-added resellers, selected
distributors, and direct to end-users. TransAct has over 2.4 million
printers installed around the world. TransAct is also committed to
providing world-class printer service, spare parts, accessories and
printing supplies to its growing worldwide installed base of printers.
Through its TransAct Services Group, TransAct provides a complete range
of supplies and consumable items used in the printing and scanning
activities of customers in the hospitality, banking, retail, gaming,
government and oil and gas exploration markets. Through its webstore, http://www.transactsupplies.com,
and a direct selling team, TransAct addresses the on-line demand for
these products. TransAct is headquartered in Hamden, CT. For more
information, please visit http://www.transact-tech.com
or call 203.859.6800.
About Suzo-Happ Group
The Suzo-Happ Group was formed in 2004 with the merger of Suzo
International, headquartered in The Netherlands, and Happ Controls,
headquartered in Mount Prospect, IL. Major additions were made with
Advanced Electronic Systems in 2005, Starpoint Electrics in 2006,
Dynamics Chinatec in 2007, and Transcity Group in 2013. The combined
organization holds a global leadership position in the gaming and
amusement components and accessories market. The Company's 550 employees
serve more than 20,000 customers worldwide. Suzo-Happ has manufacturing,
engineering, distribution and service capabilities in 10 countries
globally. More information is available at www.suzohapp.com.
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 are 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 new products; 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
China; 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; our new line of food safety and oil and gas products will
drive increased adoption by customers; the outcome of the lawsuit
between TransAct and Avery Dennison Corporation; and other risk factors
detailed from time to time in TransAct's 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.
Investors:
TransAct Technologies Incorporated
Steve
DeMartino, 203-859-6810
President and Chief Financial Officer
or
JCIR
Richard
Land, Joseph Jaffoni, Jim Leahy
212-835-8500 or tact@jcir.com
Source: TransAct Technologies Incorporated
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