New Agreement Includes BOHA! Labeling App and BOHA! Terminals; Operator to Trial Additional BOHA! Apps for Potential Future Deployment
HAMDEN, Conn.--(BUSINESS WIRE)--Sep. 4, 2019--
TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, announced today that it has secured a new agreement to deploy the BOHA! Terminal and one of its BOHA! SaaS-based apps across a regional foodservice operator’s 45 U.S. locations.
TransAct expects approximately 30 customer locations to go live with the BOHA! Terminal, the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (TEMS) over the next 12 months, with an additional 15 locations to follow over time. This new BOHA! customer will also purchase TransAct Labels which are specifically designed to work with the thermal printers featured in the BOHA! Terminal. TransAct believes the annual recurring average revenue per unit (“ARPU”) for this agreement will be more than $2,500 a year, with the potential for additional upside as the customer is currently evaluating two additional BOHA! SaaS-based apps for potential future deployments.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “We continue to see strong levels of interest for BOHA! and its revolutionary ecosystem of SaaS-based software and purpose-built hardware. Our newest agreement to deploy the BOHA! Terminal and BOHA! Labeling app across another regional foodservice operator’s locations represents the latest endorsement for the benefits BOHA! provides for back-of-house operations. Since launching BOHA! earlier this year, operators of all sizes from across the restaurant and foodservice landscape have come to appreciate how our revolutionary ecosystem can drive cost savings and improve efficiency wherever food is prepared for sale in both take-out and dine-in settings.
“BOHA! was designed from the start to be the industry’s first single-source platform that provides a wide variety of software-driven back-of-house functions. With BOHA! rolling out across a growing base of restaurant and foodservice operator customers in the US, Canada and abroad, TransAct is focused on providing customers with an easy-to-use and easy-to-deploy ecosystem of hardware solutions, cloud-based SaaS apps and proprietary labels that allow them to operate more effectively and efficiently. Customers are also benefiting from TransAct’s ongoing commitment to address each of their distinct operational needs based on menu requirements and operational workflows. We continue to position TransAct for long-term growth thanks to a business model built around up-front hardware sales revenue and attractive recurring annual ARPU related to our apps and label solutions which are critical components of the BOHA! ecosystem and our overall recurring revenue proposition.”
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! hardware and software 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
Investors:
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
