TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today that it has secured a new agreement with a regional foodservice operator to deploy the BOHA! Terminal and one of the BOHA! SaaS-based apps.
TransAct expects the customer’s locations will go live with a total 128 BOHA! Terminals, the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (TEMS) by the end of 2019. The foodservice operator will also purchase TransAct Labels which are specifically designed to work with the thermal printers featured in the BOHA! Terminal and the Company’s BOHA! Premier Express service offering. TransAct believes the annual recurring average revenue per unit (“ARPU”) for this agreement will be more than $1,100 a year. In addition, the foodservice operator is beginning an evaluation of three additional BOHA! SaaS-based apps for potential future deployments.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “Since the official launch of our revolutionary BOHA! SaaS-based software and hardware ecosystem earlier this year, we have announced a variety of orders with customers of different sizes across the broad spectrum of restaurant and foodservice operations. This agreement to deploy the BOHA! Terminal and our SaaS-based software with a regional foodservice operator is another indication that our unique offering can bring quantifiable economic and efficiency advantages to virtually any operator preparing food for sale in take-out and dine-in settings.
“As our success with BOHA! grows, restaurant and foodservice operators are clearly embracing the ability of our solution to provide a wide variety of software-driven back-of-house functions all from one vendor and from a single hardware platform. Additionally, TransAct’s commitment to addressing each of our customers’ distinct operational needs based on their menu requirements and operational workflows is a distinguishing factor that we believe establishes a foundation for near- and long-term BOHA! growth. Our ecosystem of hardware solutions, cloud-based SaaS apps and proprietary labels makes it easy for customers to deploy back-of-house technology that addresses their need to operate more effectively and efficiently. In addition, while directly serving the needs of our customers, the economic model behind BOHA! provides TransAct with up-front hardware sales revenue and attractive recurring annual ARPU related to our apps and labels.”
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.
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.