HAMDEN, Conn., Jan. 22, 2008 (PRIME NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a leading producer of transaction-based printers for customers worldwide, today announced that it has extended its agreement for Eurocoin, a leading supplier of products for the amusement, gaming and casino industries, to serve as its exclusive distributor and service agent for the gaming and casino market in Europe and Africa. Under the terms of the agreement, Eurocoin will continue to distribute TransAct's line of gaming printers through January 31, 2010.
Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies, commented, "Our international gaming sales continued to grow in 2007, fueled by the broad acceptance of our Epic 950(r) ticket printer in the ticket-in, ticket-out market and the Epic 430(tm) gaming printer, which targets off-premise gaming opportunities such as Amusements with Prizes (AWP) and Skills with Prizes (SWP), Video Lottery Terminals (VLT), and Fixed Odds Betting Terminals (FOBT). Our long-term sales partner, Eurocoin, has helped us expand our global reach by building customer relationships enabling us to achieve record sales in Europe and Africa. Given the opportunity in these markets and our past success working together, it is clearly in both companies' best interests to extend our partnership."
Colin Veitch, Director, Eurocoin, said, "Eurocoin is pleased to extend the ongoing relationship with our colleagues at TransAct and look forward to continuing growth and success over the next two years. TransAct is an outstanding partner with the proven technology of the Epic 950 and Epic 430 printers. Together we have worked to provide innovative solutions and exceptional support resulting in our leading position in the European and African gaming markets."
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 products through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct also has a strong focus on the after-market side of the business, with a high commitment to printer service, supplies and spare parts. TransAct is headquartered in Hamden, CT. For more information on TransAct, visit www.transact-tech.com or call 203.859.6800.
About Eurocoin Ltd
Eurocoin is a privately-owned UK company that has been servicing the UK and European gaming industry for 35 years from its London headquarters. Employing 55 people across Europe and with sales of $20 million, the company specializes in the sales, service and support of components for the gaming machine industry. For further information contact sales@eurocoin.co.uk or visit www.eurocoin.co.uk.
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", "project" 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; 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; risks associated with potential future acquisitions; and the outcome of the lawsuit between TransAct and FutureLogic, Inc. 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.