TransAct Secures First Expansion Agreement with a Large Canadian Fast Food Operator
Restaurant Operator Approved Additional BOHA! Ecosystem Apps and Hardware Products
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 demonstrated growing momentum for the Company’s back-of-house BOHA!™ software and hardware ecosystem with a corporate approval to begin selling additional BOHA! solutions to more than 1,000 Canadian fast food franchise locations.
Bart C Shuldman, Chairman and CEO TransAct said “Last August, we announced our initial agreement with this large Canadian operator’s franchise locations which included the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (“TEMS”) alongside the BOHA! Terminal. At the time the operator was evaluating other BOHA! applications and hardware for potential deployment at franchise locations. We are pleased to announce that after a successful trial this large Canadian fast food operator is adding three addition BOHA! apps and two additional pieces of hardware to the list of products they are asking their franchisees to purchase. Our Digital Temperature Taking and Monitoring Solution includes the BOHA! Temp app, BOHA! Sense app, and BOHA! Timer app plus the required hardware which includes BOHA! Gateway and BOHA! Sensors.”
The Digital Temperature Taking and Monitoring Solution digitizes a restaurant’s food safety process by ensuring their food is stored and served at proper temperatures. BOHA! Temp digitizes the food temperature taking process by providing a step-by-step method for taking and logging food temps, combined with a preloaded list of food items so workflow is efficient and easy to follow. The digital HACCP logs are stored in the cloud and can be accessed locally or corporate headquarters can review the temperature of food as it is produced and served. BOHA! Sense is a temperature sensing system that monitors the temperature and humidity inside refrigerators, freezers, and walk-in equipment, as well as dry storage areas. BOHA! Timer is an easy to use application to create timers for cooked, cooled and prepped food items as well as non-food items that require time tracking. BOHA! Gateway is the central hub of the monitoring solution and uses a secure and robust LoRaWan solution to gather data and transmit it across sensors and devices to the cloud. A complementary add-on to our BOHA! Temp software, the BOHA! Sensor, attaches to restaurant equipment and refrigeration units to monitor critical temperatures.
To date, over 90 franchisees have purchased and installed the BOHA! Labeling SaaS-based app and TEMS alongside the BOHA! Terminal and TransAct is excited about the opportunity to cross-sell additional apps to these and other franchise locations. The expectation for the initial agreement based on the limited number of small labels per day was an annual recurring revenue per unit of approximately $275 per year. TransAct expects the annual recurring revenue per store for the 3 additional apps to be to be twice the initial deployment, or $550 per year. In addition, the initial hardware sales for the three additional apps is expected to be approximately $1,000 per store.
“We’re very pleased to have secured this expansion agreement with a respected Canadian fast food operator which will increase the digitization and improve the efficiency across the back-of-house operations of their franchisees. After successfully implementing our BOHA! Labeling and TEMS solution to over 90 franchisees, we are excited to show these and the remaining franchises the benefits of our Digital Temperature Taking and Monitoring Solution along with our timer app,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “We are excited by the momentum exhibited by BOHA! in the food service market. As awareness grows around BOHA!’s ability to drive measurable improvement across restaurant and foodservice operators’ bottom line, we believe more customers will add additional BOHA! apps.”
BOHA! is the first single-vendor solution to combine applications for Food Safety Labeling, Temperature Monitoring of Food and Equipment, Inventory Management, Timers, Food Recalls, Checklists & Procedures, Equipment Service Management and Delivery Management 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. BOHA! Terminal TEMS ensures 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 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.
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.