Release Details

HAMDEN, Conn., Aug. 3, 2011 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based industries, today announced that it has entered into an agreement to acquire substantially all the assets of Printrex, Inc. ("Printrex"), a leading manufacturer of high-performance specialty printers primarily sold into the oil and gas exploration market, for $4 million plus contingent consideration related to new products under development. The acquisition is expected to close in the third quarter of 2011, subject to customary closing conditions.

Printrex has become the worldwide leader in printers/plotters for the oil & gas exploration and drilling industry. Printrex also manufactures and markets printers for other demanding applications that include the medical industry and rugged mobile truck mounted printers. Printrex recorded sales of $5.4 million with an operating income margin that was slightly higher than TransAct's in 2010.

"Printrex is a great company with solid technology in the growing oil and gas exploration industry, and will be an excellent fit with TransAct," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "With the demand for oil and gas rising around the world, we are excited to become part of this quickly expanding market. We will use our engineering, sales and marketing expertise to continue the growth of the Printrex business through the introduction of new, innovative products and the expansion of sales of new and existing products into new markets. We expect the transaction will be slightly accretive to earnings in 2011 net of one-time transaction expenses and expect it to be fully accretive starting in 2012."

About TransAct Technologies Incorporated

TransAct Technologies Incorporated (Nasdaq:TACT) is a leader in developing and manufacturing market-specific printers for transaction-based industries. These industries include casino, gaming, lottery, banking, kiosk and point-of-sale. 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 are designed from the ground up based on market specific requirements and are sold under the Ithaca® and Epic product brands. TransAct distributes its printers through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct is committed to world-class printer service, spare parts and accessories required by a growing worldwide installed base of printers. Beyond printers, TransAct is a leader in providing printing supplies to the full transaction printer market. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumables items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming and government 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 on TransAct, visit http://www.transact-tech.com or call 203.859.6800.

The TransAct Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10061

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, the Company's ability to successfully integrate the Printrex business with its existing operations, 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; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; dependence on a sole source contractor manufacturer for the assembly of a large portion of our products in China; the ability to protect intellectual property; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; 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; 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; and risks associated with potential future acquisitions. 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.

CONTACT: TransAct Technologies Incorporated

         Steven DeMartino, President and Chief Financial Officer

         203-859-6810

         

         ICR Inc.

         William Schmitt

         203-682-8200