Iveda Secures $500,000 Contract to Update Video Surveillance System
at Taiwan Taoyuan International Airport
MESA, Ariz. (September 22, 2014) – Iveda® (OTCQB:IVDA), a leading enabler of cloud-based video surveillance through its Sentir™ platform, today announced that it has secured a US$517,000 contract to update and modernize the video surveillance system at the Taiwan Taoyuan International Airport in Taipei. MEGAsys®, Iveda’s Taiwanese subsidiary, will support Siemens, Ltd., the project’s prime contractor, with engineering, design and integration of field sensor systems and other sub-systems into a private cloud. Work on the project is set to begin immediately and is expected to be completed by December 2014.
“Through our work rolling out Sentir to telecoms such as the recently announced Philippine Long Distance Telephone Co. (PLDT), Iveda has demonstrated the ability to efficiently and successfully deploy cloud based video surveillance solutions on a large scale,” said David Ly, chairman and CEO of Iveda. “Siemens’ decision to work with Iveda on this project reflects our reputation and ability to leverage the capabilities we have developed for telcos and other value-added resellers to the private cloud. We look forward to working closely with Siemens to upgrade the airport’s surveillance systems as well as take advantage of similar projects when they make sense economically.”
The project includes establishment of facilities management system for centralization of disparate sub-systems: database management, GIS information, alarm, account authentication, network management and video surveillance systems. The project also calls for engineering design and installation of optical projection and display systems.
Iveda and MEGAsys are registered trademark of Iveda Solutions, Inc. Sentir is a trademark of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCQB:IVDA) is a premier enterprise-class Video Surveillance as a Service (VSaaS) solutions and platform provider. Iveda enables a recurring revenue model by licensing its VSaaS platform to organizations for plug-and-play cloud video offering to their customers. Iveda has a SAFETY Act Designation from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Iveda is headquartered in Mesa, Arizona with a subsidiary in Taiwan. Iveda is publicly traded under the ticker symbol “IVDA.” For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions, www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.
This release includes forward-looking statements. Actual results may vary materially from those expected. Iveda’s business is subject to significant risks and uncertainties described more thoroughly in the Company’s SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2013. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Chief Marketing Officer