Agreement with International Foodservice Brand for Revolutionary
BOHA!™ Branded Cloud-Based Apps and Hardware Solutions Covers 1,000
Initial Locations
Annual Average Revenue per Unit Related to New Agreement Forecast to
be Approximately $1,700
HAMDEN, Conn.–(BUSINESS WIRE)–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 its largest to-date agreement for its BOHA!™
solution since the revolutionary ecosystem’s market introduction in
March. The agreement with a large, international foodservice brand
includes the deployment of BOHA! hardware and software across an initial
1,000 locations that will roll out by the end of 2019. The Company
believes that based on additional expansions of its customer’s stores
and a successful rollout of BOHA!, the potential for additional
deployments of BOHA! hardware and software with this customer could
include 2,000 to 3,000 more locations over the next two to three years.
The BOHA! deployments at the international foodservice brand locations
will include the BOHA! Labeling SaaS-based app and TransAct
Enterprise Management System (TEMS) alongside the BOHA! Terminal,
as well as TransAct Labels specifically designed to work with the
thermal printers featured in the BOHA! Terminal. Based on these initial
deployments, TransAct believes the annual recurring average revenue per
unit (“ARPU”) for this agreement will be at least $1,700 a year.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said,
“Before its launch in March, we actively worked to help restaurant and
foodservice operators understand the unique and quantifiable economic
and efficiency advantages of our revolutionary BOHA!
SaaS-based software and hardware ecosystem. Included in our
pre-launch work was the initiation of extensive trials of our solution
with a growing number of operators. We’re very pleased that in a
relatively short period of time, our vision for how BOHA! can
revolutionize back-of-house automation is being acknowledged through a
growing number of trials and sales orders, including this new agreement
with a large, foodservice brand which is our most significant BOHA!
sales success to date.
“It’s clear that the advantages of BOHA!, which includes the ability to
provide a wide variety of functions in a single-vendor solution and the
platform’s ability to address each customer’s distinct operational needs
based on menu as well as back-of-house processes is a distinguishing
factor that we believe establishes a foundation for near- and long-term
growth in BOHA! deployments. Our ecosystem of hardware solutions,
cloud-based SaaS apps and proprietary label solutions provides customers
with an easy to deploy solution that addresses their need to operate
more effectively and efficiently in their back-of-house operations.
Importantly, we are addressing the needs of the industry with an
economic model that provides TransAct with up-front revenue related to
hardware sales and attractive recurring annual ARPU related to our apps
and label solutions.”
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 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.
Contacts
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 [email protected]
