TRANSACT EXPANDS CASINO AND GAMING DISTRIBUTION AGREEMENT WITH LEADING GLOBAL DISTRIBUTOR, SUZO-HAPP, TO INCLUDE ALL WORLDWIDE TERRITORIES
September 23, 2014
Hamden, CT – September 22, 2014 – TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries, announced today that it has expanded its existing, exclusive multi-year distribution agreement with Suzo-Happ to now include all European territories beginning on January 1, 2015. This makes Suzo-Happ the exclusive global distributor of TransAct casino and gaming printing solutions to casino and gaming operators in the U.S. as well as both operators and manufacturers in Europe and Asia. In September 2013, TransAct entered into an agreement with Suzo-Happ to market and distribute the Company’s casino and gaming printing solutions in most areas of the world, excluding Europe. As a leading supplier of engineered component solutions for gaming customers worldwide and with a European sales and marketing team of 70 professionals in 7 European countries, Suzo-Happ is uniquely positioned to further enhance TransAct’s distribution network in the European marketplace, building upon the success achieved in the first year of this unique partnership.
Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies, commented, “Over the last year, we have worked in close partnership with the team at Suzo-Happ to bring TransAct’s gaming industry solutions to their customers through a wide-ranging agreement that has significantly broadened the worldwide distribution network for our award-winning products. Our expanded agreement now includes European gaming markets, building on the successful foundation we have already established. As a result, Suzo-Happ is now the Company’s exclusive global distribution partner for our innovative Epicentral® promotion and bonusing software system as well as our industry-leading Epic® printers for gaming devices and in-casino kiosks.
“We are excited to leverage Suzo-Happ’s established global relationships to further expand the addressable market in Europe and beyond for our Epicentral bonusing solution as well as our award-winning Epic printers. Today, Epicentral is demonstrating proven results in an environment where casino operators are looking for ways to optimize their marketing efforts to drive revenue growth. With initial deployments of Epicentral on over 10,500 electronic gaming machines at 11 casinos in the United States, Europe and Latin America, we believe this expanded relationship with Suzo-Happ will allow us to aggressively pursue new opportunities in different markets and help drive further visibility for the benefits Epicentral brings to day-to-day casino operations. In addition, we believe Suzo-Happ’s extensive distribution footprint in the European market will drive additional opportunities to increase the leading market share of our Epic printers which are clearly the gaming machine printer solution of choice.”
Marcel Oelen, Managing Director Europe for Suzo-Happ, added, “We strive to find and grow strategic partnerships where we can bring real solutions that add measurable value to both manufacturers and operators. TransAct is a perfect fit with that business philosophy and we are excited to include TransAct’sbest-in-class products in our product range.”
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leader in developing and manufacturing market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. These industries include casino and gaming, lottery, food safety, banking, point-of-sale, hospitality, oil and gas, medical and mobile. 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 and products are designed from the ground up based on market-specific requirements and are sold under the Ithaca®, RESPONDER, Epic, EPICENTRAL® and Printrex® product brands. TransAct distributes its printers and terminals through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over 2.5 million printers and terminals installed around the world. TransAct is also committed to providing world-class printer service, spare parts, accessories and printing supplies to its growing worldwide installed base of printers. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumable items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming, government and oil and gas exploration markets. Through its webstore, http://www.transactsupplies.com, and a direct selling team, TransAct addresses the on-line demand for these products. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call 203.859.6800.
About Suzo-Happ Group
Suzo-Happ provides highly engineered component solutions for interactive self-service hardware to the global amusement, gaming, industrial, transportation and vending markets by serving both equipment operators and original equipment manufacturers. Suzo-Happ’s solutions include control devices and systems, currency handling equipment, display solutions, environmental products, machine operation components and payment systems. With approximately 700 global employees in 13 countries serving more than 25,000 customers worldwide, Suzo-Happ has manufacturing, engineering, distribution and service facilities in 13 countries globally. More information is available at www.suzohapp.com Suzo-Happ is owned by Acon Investments, a Washington, D.C. based private equity investment firm, with more than $4.0 billion of capital managed. For more information, visit www.aconinvestments.com.
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 are 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 new products; 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; our new line of food safety and oil and gas products will drive increased adoption by customers; the outcome of the lawsuit between TransAct and Avery Dennison Corporation; and other risk factors detailed from time to time in TransAct's 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.