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 seven 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’s best-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, that has managed over $3.5 billion of
capital. For more information, visit www.aconinvestments.com.
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 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.
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