HAMDEN, Conn., May 27, 2008 (PRIME NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based industries, today announced the appointment of Benjamin Wyatt to Vice President of Business Development.
Mr. Wyatt has extensive experience in Business Development, most recently serving as the Director of Business Development for Pitney Bowes' Mail Services Division where he was responsible for growing the business through acquisitions and new product development, and accountable for all phases of acquisitions, including target identification, strategic and financial analysis, due diligence, negotiation, and integration. In his new role at TransAct, Wyatt will work with TransAct's management team to develop and execute the Company's organic and acquisitive business development strategy. As such, he will be identifying and integrating new market and product strategies that align with the Company's core competencies and represent growth opportunities.
Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies, said, "We are pleased to welcome Ben to TransAct. We believe his extensive experience in business development will be a beneficial addition to our management team, helping us continue to grow the Company and capitalize on market opportunities. Further, his expertise in successfully acquiring and integrating businesses will play an instrumental role in driving revenue growth over the long-term, as we target acquisitions in the transaction supplies and transaction printing industries, as well as implement other strategic initiatives to continue our organic growth."
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, point-of-sale, kiosk and banking. 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.
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; 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.