MESA, Ariz. (February 4, 2016) – Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance and data management through licensing its Sentir® platform, today announced shipment of 1,100 ZEE® plug and play cameras to its exclusive reseller in Vietnam. Iveda’s exclusive reseller required receipt of the Sentir-enabled devices prior to Chinese New Year, in preparation for market seeding activities of Vietnam Posts and Telecommunications (VNPT), the largest telecommunications company in Vietnam.
This shipment of Sentir-enabled cameras is crucial to VNPT’s plans for a near-term national launch of cloud video surveillance services to their customers. In 2015, Sentir has been installed and certified by VNPT as consumer-ready technology at four of its regional datacenters in preparation for this launch.
“This initial hardware purchase gets the ball rolling with our exclusive reseller, setting the stage for 2016 and additional significant Vietnam telecom camera purchases. We specifically look forward to announcing VNPT’s initial significant purchase orders and 2016 contracted business in the near future,” said David Ly, chairman and CEO of Iveda.
In November 2015, a contract was signed for a committed $1 million prepaid Sentir licenses for which $250,000 has been paid to Iveda in 2015. Per the original terms of the contract, the full $1 million was to be paid in 2015, but the exclusive reseller was not able to abide to that timeframe. They are working diligently to fund the additional $750,000 in the near term.
“The purchase of prepaid licenses by our exclusive reseller shows tremendous confidence in the Vietnam market. This level of commitment equates to tens of thousands of devices running on Sentir to profit from the investment they are making; that is incentive,” said Bob Brilon, president and CFO of Iveda.
Iveda, Sentir, and ZEE are registered trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCQB:IVDA) enables cloud video surveillance by licensing its Sentir® video and data management platform, utilizing proprietary video streaming and Big Data storage technology. Iveda enables a recurring revenue model by licensing Sentir to service providers for plug-and-play cloud video offering to their customers. Iveda has a SAFETY Act Certification from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Iveda is headquartered in Mesa, Arizona with a wholly-owned 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, 2014 and its subsequently filed quarterly reports on Form 10-Q. 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.
Luz A. Berg
Chief Marketing Officer