TransAct Technologies acquires perpetual license to BOHA! source code

TransAct Technologies (TACT) has acquired a perpetual license to a copy of the source code for the BOHA! software that it licenses from Avery Dennison. Under the terms of the agreement, TransAct has obtained a perpetual and royalty free license to use, host, market, sublicense, distribute, copy, and modify the code as the Company sees fit for its business purposes. “I believe this is a pivotal moment for TransAct that allows us the freedom to modify, extend and enhance the code as we see fit, without royalties or contractual constraints going forward,” said John Dillon, Chief Executive Officer of TransAct. “Acquiring the source code provides us greater operational freedom, and we expect it will eventually enhance our financials, leading to greater value for TransAct stockholders and employees. I’m happy to have completed this transaction and believe this is a significant and transformative step forward for the Company.” The Company expects to launch its fully supported version of BOHA! in early 2027. Total consideration for the acquisition is $2.55 million, plus professional services fees of approximately $1.0 million for transition services to be provided by Avery Dennison.