TransAct Secures BOHA! Solutions Order for Large Sushi Operator
Annual Recurring Revenue Per Unit is Estimated to be $1,450 per year.
HAMDEN, Conn.--(BUSINESS WIRE)--Jul. 7, 2020-- TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced that it has secured another new BOHA! agreement with the second largest sushi operator in the U.S. This company operates sushi bars in upscale supermarkets, cafes, hospitals, universities and corporate foodservice locations and expects to deploy the BOHA! system in approximately 1,200 locations by year end.
The complete system deployment will include the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (“TEMS”) alongside the BOHA! Terminal, TransAct Care Premier Express Warranty as well as proprietary TransAct designed labels. In light of the current economic environment and the ongoing challenges it presents to our customers, TransAct for the first time is providing the BOHA! ecosystem as a bundled solution, with hardware, software, and a 36-month warranty all invoiced in a single monthly charge. This operator now has the ability to transform their back of house operations without having to spend capital upfront to purchase the hardware. The agreement is expected to generate over $1.7M per year for three years, totaling approximately $5.2M. In addition, the customer is evaluating BOHA! Temp, our temperature monitoring software application, and expects to deploy this in 2021.
“As the ongoing economic ripples of COVID-19 continue to be felt across our customer base, we are pleased to be offering our industry leading BOHA! solutions to customers in one easy-to-manage, bundled package. Our BOHA! solutions, now more than ever, provide the ability to cut costs and improve productivity on mission critical processes essential to keeping our clients operations running on budget. We are thrilled to provide the flexibility and convenience of a bundled package to this large Sushi operator and other customers going forward,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies.
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.
Marc P. Griffin
Source: TransAct Technologies Incorporated