TransAct Technologies Announces Strategic Alliance With Leap Forward Gaming
HAMDEN, Conn., Nov. 10, 2010 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based industries, announced today that they have formed a significant strategic alliance with Leap Forward Gaming (LFG) of Reno, NV. The alliance is designed to enable both companies to bring together their respective assets and collective strengths to deliver a portfolio of products and services that will help drive player enhancement and profitability for the gaming industry.
"Our groundbreaking, patented, highly-secure wireless technology provides TransAct with the ability to seamlessly offer new levels of connectivity throughout casino floors in an economical way," said Ali Saffari, CEO of Leap Forward Gaming. "This partnership enables us to combine our creative teams to develop wireless solutions and applications that complement and seamlessly integrate TransAct's cutting-edge, innovative technology."
"We are pleased to be partnering with Leap Forward Gaming, a leading technology firm focused on providing a wide variety of innovative products and solutions to the gaming industry," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "With our new EPICENTRAL Print System, the TransAct and Leap Forward Gaming teams will be able to provide innovative, top-of-the-line wireless technology for the industry that will help drive innovation to the casino floor."The first innovative product of a multi-phase effort from the partnership is expected to be available to the gaming industry in spring 2011. Leap Forward Gaming was founded by highly-respected gaming technology leader Ali Saffari, who is the driving force behind the company. Saffari is credited with leading the development of revolutionary products and some of the most widely accepted and profitable technologies in the industry to date, including multiple systems, ticket-in/ticket-out (TITO) and the integration of bill validators into gaming machines. 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® 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 markets. Through its webstore, 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 on TransAct, visit www.transact-tech.com or call 203.859.6800. About Leap Forward Gaming Incorporated Leap Forward Gaming (LFG) specializes in the innovation, development, design, manufacture, and operation of wireless communication systems. LFG's wireless solutions and applications provide enhanced value to players, operators, and manufacturers in gaming and non-gaming industries. LFG's multi-disciplined team of gaming industry professionals has more than 250 years combined gaming experience, with a portfolio of issued and pending worldwide patents, developing creative and groundbreaking wireless technologies. Leap Forward Gaming is headquartered in Reno, NV. For more information on LFG, please visit www.leapforwardgaming.com or call 775.323.5327. 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 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 contract manufacturer for the assembly of a large portion of the Company's products in China; dependence on ability to obtain competitive pricing and other terms from our contract manufacturer and other suppliers; 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; risks associated with the development, maintenance and marketing of the Company's software products; 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
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