TransAct Expands Restaurant Solutions Product Suite with Debut of AccuSpot at the National Restaurant Association Show 2018

May 21, 2018

All-New HACCP-Compliant AccuSpot™ Temperature Monitoring Solution Set Digitizes Critical Component of Food Safety Management in Restaurants and Foodservice Operations
 

HAMDEN, Conn., May 21, 2018--TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, announced today the expansion of its restaurant solutions product lineup with the debut of AccuSpot, a new array of temperature monitoring solutions for restaurant and foodservice operators, at the National Restaurant Association ("NRA") Show 2018, May 19-22, 2018 at McCormick Place (Booth #6057) in Chicago, IL. Featuring a pair of new hardware devices – the AccuSpot IR Thermometer and AccuSpot Probe – and a companion app designed for handheld devices, AccuSpot will dramatically enhance HACCP compliance, quality standards and food safety in back-of-house kitchen environments by digitizing complex temperature monitoring functions and leveraging the power of artificial intelligence and neural networks to verify that foodservice workers complete the key steps needed to properly monitor food temperatures throughout kitchen processes.

Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “As we look to further expand our lineup of restaurant management solutions, TransAct’s ongoing interactions with customers across the industry have demonstrated the critical importance of temperature monitoring among the many tasks restaurants and foodservice operators complete to ensure that customer food is safe. Despite its critical importance, many customers today use manual processes to monitor and log food temperature. With the debut of the AccuSpot suite of products, we are again meeting our customers’ ever-evolving needs and bringing to market a state-of-the-art temperature monitoring solution that digitizes this key task by marrying best-of-breed hardware and innovative software. In addition, we are working with customers to ensure that they have a customized solution that fits neatly into their complex workflows. Importantly, the addition of our powerful mobile app ties the solution to the cloud and allows us to leverage the power of artificial intelligence to dramatically improve the accuracy of our solution and ensure that employees complete these critical tasks on time and to the satisfaction of brand quality teams.

“The growing prevalence of the Internet of Things has made it possible for connected and cloud-based solutions like AccuSpot to enter the marketplace and dramatically change the way restaurant and foodservice operators conduct their business every day. As with our growing lineup of AccuDate restaurant terminal solutions including the all-new AccuDate XL2e, AccuSpot represents a new and exciting opportunity for TransAct, one that should allow us to build our recurring revenue base and further expand our software-based solution set over time. We are delighted to work with our customers at NRA Show 2018 in Chicago where we will clearly demonstrate that our team has their ever expanding and ever evolving needs in mind.”

The new AccuSpot IR Thermometer and AccuSpot Probe debuting at NRA Show 2018 in connection with a dedicated companion app that runs on a handheld device are designed to revolutionize temperature monitoring and task completion verification. These simple, HAACP-compliant devices snap on the back of the handheld device and use infrared sensing (for taking the surface temperature of items) or a temperature probe (for taking the internal temperature of items, like meats) to take and log food temperatures throughout the day. The AccuSpot solution also leverages the handheld device’s existing camera to send images to the cloud where food items are identified and to verify that temperatures have been taken properly. The cloud also stores daily activity logs that can be used by restaurant operations teams to monitor brand quality and by local health inspectors who come to restaurant locations to view existing conditions.

For more information on the AccuSpot IR Thermometer, AccuSpot Probe and AccuSpot app, NRA 2018 visitors can stop by the Company’s booth at McCormick Place (Booth #6057) and all customers can visit the Company on the web at www.transact-tech.com/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 restaurant solutions, POS automation, casino and gaming, lottery, mobile and oil and gas. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the AccuDate™, EPICENTRAL®, Epic®, Ithaca®, RESPONDER and Printrex® brands. TransAct has over 3.0 million printers and terminals installed 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.

AccuDate is a registered trademark of TRANSACT Technologies Incorporated. ©2018 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 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; 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.