HAMDEN, Conn.--(BUSINESS WIRE)--
Agreement with International Foodservice Brand for Revolutionary BOHA!™ Branded Cloud-Based Apps and Hardware Solutions Covers 1,000 Initial Locations
Annual Average Revenue per Unit Related to New Agreement Forecast to be Approximately $1,700
TransAct® Technologies Incorporated (TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced its largest to-date agreement for its BOHA!™ solution since the revolutionary ecosystem’s market introduction in March. The agreement with a large, international foodservice brand includes the deployment of BOHA! hardware and software across an initial 1,000 locations that will roll out by the end of 2019. The Company believes that based on additional expansions of its customer’s stores and a successful rollout of BOHA!, the potential for additional deployments of BOHA! hardware and software with this customer could include 2,000 to 3,000 more locations over the next two to three years.
The BOHA! deployments at the international foodservice brand locations will include the BOHA! Labeling SaaS-based app and TransAct Enterprise Management System (TEMS) alongside the BOHA! Terminal, as well as TransAct Labels specifically designed to work with the thermal printers featured in the BOHA! Terminal. Based on these initial deployments, TransAct believes the annual recurring average revenue per unit (“ARPU”) for this agreement will be at least $1,700 a year.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “Before its launch in March, we actively worked to help restaurant and foodservice operators understand the unique and quantifiable economic and efficiency advantages of our revolutionary BOHA! SaaS-based software and hardware ecosystem. Included in our pre-launch work was the initiation of extensive trials of our solution with a growing number of operators. We’re very pleased that in a relatively short period of time, our vision for how BOHA! can revolutionize back-of-house automation is being acknowledged through a growing number of trials and sales orders, including this new agreement with a large, foodservice brand which is our most significant BOHA! sales success to date.
“It’s clear that the advantages of BOHA!, which includes the ability to provide a wide variety of functions in a single-vendor solution and the platform’s ability to address each customer’s distinct operational needs based on menu as well as back-of-house processes is a distinguishing factor that we believe establishes a foundation for near- and long-term growth in BOHA! deployments. Our ecosystem of hardware solutions, cloud-based SaaS apps and proprietary label solutions provides customers with an easy to deploy solution that addresses their need to operate more effectively and efficiently in their back-of-house operations. Importantly, we are addressing the needs of the industry with an economic model that provides TransAct with up-front revenue related to hardware sales and attractive recurring annual ARPU related to our apps and label solutions.”
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.