HAMDEN, Conn., April 10, 2012 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based and other industries, announced today that it has signed a new agreement with ZINK Imaging to exclusively use and sell ZINK Imaging's innovative ZINK® Zero Ink® full color, ink-free printing technology for oil and gas industry printing applications.
ZINK stands for Zero Ink - an amazing new way to print in full color without the need for ink cartridges or ribbons. ZINK Technology encompasses both the ZINK Paper® and the intelligence embedded in every ZINK-enabled device. ZINK enables a new category of color printing devices and paper that work as a system to print in a whole new way.
"We are very excited to be working further with ZINK Imaging, as their color printing technology has the potential to change the way most oil and gas companies conduct their business," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "The ZINK relationship was a key driver of our recent acquisition of Printrex. Prior to our purchase, Printrex and ZINK Imaging were working together to commercialize large format ZINK-enabled printing systems. This new agreement extends our relationship with ZINK Imaging and provides TransAct Technologies a long-term revenue opportunity, selling not only the ZINK-enabled printers but ZINK Paper as well."
Mr. Shuldman continued, "The color quality of the ZINK Technology is impressive, giving well loggers easier-to-use information as they drill and produce oil. The color takes the efficacy of the prints to new heights, which, coupled with a rugged printer design, has the opportunity to change printing for the oil and gas drilling market."
"We are thrilled that TransAct Technologies is continuing our partnership to bring the benefits of the ZINK Technology to its oil and gas industry customers," said Mary Jeffries, Chairman and co-CEO of ZINK Imaging. "ZINK Technology enables for the first time, simple, full color printing in rugged and challenging environments enabling new business processes and workflows for the oil and gas industry."
Based on advances in chemistry, engineering, physics, image science, and manufacturing, the development of the ZINK Technology has generated an IP portfolio that includes over 180 patents and patents pending. At the heart of the technology is ZINK Paper, which looks like regular white paper before printing. Heat from a ZINK-enabled device activates the color-forming chemistry within the ZINK Paper, forming all the colors of the rainbow. The printing process is now radically simple – just add ZINK Paper®.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated (Nasdaq:TACT) is a leader in developing and manufacturing market-specific printers for transaction-based and other industries. These industries include casino, gaming, lottery, banking, kiosk, point-of-sale, oil and gas, and 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 are designed from the ground up based on market specific requirements and are sold under the Ithaca®, Epic and Printrex® 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, 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.
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About ZINK Imaging
ZINK Imaging Inc., a privately held company, was founded to enable millions of customers to enjoy the magic of ZINK® Zero Ink® products. ZINK Imaging invented, manufactures, and is an OEM supplier of the ZINK Printing Technology and the award winning ZINK Paper® to partners that will bring ZINK-enabled products to market under their respective brands. ZINK Imaging's headquarters and research and development labs are in Massachusetts, with a state of the art manufacturing facility in Whitsett, North Carolina. For more information, please visit www.ZINK.com.
The ZINK® Technology and ZINK® trademarks are owned by ZINK Imaging, Inc.
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, the Company's ability to successfully integrate the Printrex business with its existing operations; 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 contractor manufacturers 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.