HAMDEN, Conn., May 24, 2011 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based industries, announced today that it has entered into a distribution agreement with Victoria, Australia-based Transcity Pty Ltd.
TransAct and Transcity have previously partnered to supply one of Australia's premier gambling and entertainment companies with wagering terminals, including TransAct's Epic 430 printer specifically designed for the customer's demanding application. Together the two companies have delivered a compelling wagering solution that has exceeded the end-user's expectations and allowed them to win new business.
"We are pleased to be partnering with Transcity Pty Ltd., which will expand the sales and distribution of our gaming, casino, POS and banking products in Australia, New Zealand and Macau," said Bart Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "With our continued sales and marketing expansion in this region, we are very pleased to grow our relationship with Transcity, a company dedicated to providing unparalleled customer service."
Geoffrey McDowell, Managing Director of Transcity Group commented, "We are excited about our new partnership with TransAct Technologies. TransAct has been a strong partner of ours for many years and is a highly respected supplier of exceptional products. The opportunities in the Australasian region are expanding as a result of the continued adoption of Ticket-In, Ticket-Out (TITO) technology. In addition, our existing presence in the POS and banking markets will provide TransAct a new sales channel and growth prospects. Finally, with the opening of our Macau facility, our business is seeing tremendous growth and this alliance with TransAct positions us to provide even greater service and support to our customers in this region."
About TransAct Technologies Incorporated:
TransAct Technologies Incorporated (Nasdaq:TACT) is a leader in developing and manufacturing market-specific printers for transaction-based industries. These industries include casino, gaming, lottery, banking, kiosk and point-of-sale. 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 are designed from the ground up based on market specific requirements and are sold under the Ithaca(R) and Epic product brands. TransAct distributes its printers through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct is committed to world-class printer service, spare parts and accessories required by a growing worldwide installed base of printers. Beyond printers, TransAct is a leader in providing printing supplies to the full transaction printer market. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumables items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming and government verticals. Through its webstore, , and an expert direct selling team, TransAct addresses the rapidly growing on-line demand for this product category. TransAct is headquartered in Hamden, CT. For more information on TransAct, visit or call 203.859.6800.
About Transcity Pty Ltd.:
Transcity Group is a privately owned specialist electronics company established in 1996 and specializing in design, manufacturing and repair of quality hardware and software for the Gaming, Wagering, Retail, Banking and Transport industries. Headquartered in Melbourne, Australia with a branch office and electronics workshop in Macau in Asia, the company markets and supports its products globally through value-added resellers, selected distributors, and direct to end-users.
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; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; dependence on a sole source contractor manufacturer for the assembly of a large portion of our products in China; the ability to protect intellectual property; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; 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; 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; and risks associated with potential future acquisitions. 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.
CONTACT: TransAct Technologies Incorporated Steven DeMartino, President and Chief Financial Officer 203-859-6810 ICR Inc. William Schmitt 203-682-8200