Release Details
TRANSACT TECHNOLOGIES SIGNS NEW EXCLUSIVE AGREEMENT WITH GTECH TO PROVIDE NEXT GENERATION THERMAL LOTTERY PRINTERS
HAMDEN, CT - December 1, 2009 - TransAct Technologies Incorporated (NASDAQ: TACT), a global leader in market-specific printers for transaction-based industries, today announced that the Company has signed a new exclusive agreement with GTECH, a wholly-owned subsidiary of Lottomatica Group S. p. A., to provide them with next generation thermal lottery printers. The agreement provides that GTECH exclusively purchase all of its requirements for thermal on-line lottery printers from TransAct and that TransAct agrees to exclusively sell such printers to GTECH. The exclusivity will run for four years from the start of production of the new printer, which should commence in the fall of 2010.
"We have enjoyed a great relationship with GTECH over the past 15 years and we are very pleased to be extending that relationship," said Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies. "We believe this is our best design yet for the demanding worldwide lottery market which incorporates many new technologies and features and are pleased we will be providing it to GTECH, the industry leader."
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 growing 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.
Contact:
TransAct Technologies Incorporated
Steven DeMartino, EVP and Chief Financial Officer
203-859-6810
ICR Inc.
William Schmitt
203-682-8200