Restaurant Operator Is Also Trialing Additional BOHA! Apps and Hardware Products Beyond Initial Approved Solutions
HAMDEN, Conn.–(BUSINESS WIRE)–Aug. 8, 2019— TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today demonstrated growing momentum for the Company’s back-of-house BOHA!™ software and hardware ecosystem with a corporate approval to begin selling several BOHA! solutions to more than 1,000 Canadian fast food franchise locations. Sales initiatives for the approved BOHA! solutions to the franchise locations are expected to begin later this month and the contract is for a period of three years.
Pursuant to this new three-year agreement, the initial BOHA! deployments at this large Canadian operator’s franchise locations will include the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (TEMS) alongside the BOHA! Terminal. TransAct’s agreement also includes a commitment for the locations to use TransAct Labels specifically designed to work with the thermal printers featured in the BOHA! Terminal. Based on the initial deployment schedule and an expectation that initial franchise locations will use a limited number of small labels per day, TransAct believes the annual recurring average revenue per unit (“ARPU”) for this agreement will be approximately $275 per year. The Company is also working with the operator on the evaluation of five other BOHA! apps and two additional BOHA! hardware solutions for potential deployment at franchise locations at a later time.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “We’re pleased to have secured this agreement with a respected Canadian fast food operator and honored by the level of confidence they have in BOHA!’s ability to help their franchisees achieve improved performance across their back-of-house operations. We are also excited by the potential to continue to work to expand this relationship as we collaborate with our newest customer to evaluate and understand the further benefits that can be derived from deployment of additional BOHA! software and hardware solutions.
“As awareness grows around BOHA!’s ability to drive measurable improvement across restaurant and foodservice operators’ bottom line and how it allows employees to work more efficiently and deliver improved customer service, we are beginning to see significant momentum for new orders. We are pleased with our sales progress since the launch of the BOHA! SaaS-based software and hardware ecosystem in March and we continue to execute on what is the largest market opportunity in our history.”
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.
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