TransAct Secures BOHA!® Solutions Order with Growing National Restaurant Chain
June 21 2021 - 8:00AM
Business Wire
Annual Recurring Revenue Per Unit is Estimated
to be at least $1,000 per year.
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
that it has secured a new BOHA!® agreement with a national
restaurant chain. The company expects to deploy the BOHA! system to
at least 90 locations by the end of FY22 to perform date code and
grab n’ go labeling.
“As our BOHA! solutions continue to pick up considerable
momentum, we see a large opportunity in the restaurant space that
will only get larger with the challenges presented by the
re-opening of America ,” said Bart C. Shuldman, Chairman and CEO of
TransAct Technologies. “Our pipeline remains as robust as ever, and
we look forward to working with this new client to meet their
toughest back-of-house operational challenges.”
The complete system deployment will initially include the BOHA!
Terminal, BOHA! Labeling software, and proprietary BOHA! labels.
TransAct estimates total annual recurring revenue per unit (“ARPU”)
will be at least $1,000 per year, with one-time hardware revenue
sales of at least $800 per location.
BOHA! is the first single-vendor cloud-based enterprise system
to combine applications for Food Safety, Date Code and Grab n’ Go
Labeling, Temperature Monitoring of Food and Equipment, Checklists
& Task Management, Inventory Management, Timers, and Food
Recall, in one 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.
For more information on the Company’s BOHA! ecosystem, please
visit www.transact-tech.com/m/restaurant-solutions/
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in
developing software-driven technology and printing solutions for
high-growth markets including food service, casino and gaming, POS
automation, , 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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version on businesswire.com: https://www.businesswire.com/news/home/20210621005104/en/
Investor Contact: Michael Bowen ICR, Inc.
Michael.Bowen@icrinc.com
Ryan Gardella ICR, Inc. Ryan.Gardella@icrinc.com
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