For Immediate Release
November 15, 2011
Iveda Solutions Appoints Three New Directors to Board
Mesa, AZ (November 16, 2011) – Iveda Solutions, Inc. (OTCBB:IVDA) announced today the appointment of three new directors to its Board increasing the number of directors to seven. The newly appointed directors are Robert Gillen, Alex Kuo, and Alejandro Franco.
“We have a solid and diverse Board of Directors with a wide range of international business experience, which is essential to our growth as a global organization,” said David Ly, President and CEO of Iveda Solutions. “Each of the directors brings unique regional experience and invaluable industry expertise to our Board,” added Ly.
Robert Gillen has been a long-time supporter of Iveda Solutions as an investor. He is president of the Law Offices of Robert D. Gillen, Ltd., a law firm assisting clients with domestic and international planning, with offices in Scottsdale, Arizona and Naperville, Illinois. Gillen is an international speaker and has extensive experience in advising businesses and professionals on tax and legal matters. Gillen has been active in the cellular industry since its inception and has assisted in the development of the cellular network. Gillen has served on various boards of directors and advisory committees for growing companies, as well as donating his time and expertise on not-for-profit boards. Gillen has also authored many articles on business, tax, and legal matters. Gillen graduated from the University of Illinois with a Bachelor of Science in Business Administration and from IIT Chicago Kent College of Law with a Juris Doctor Degree with Honors.
“Iveda Solutions is one of the most interesting and exciting business enterprises I have encountered since the development of cellular phone technology. The Company’s prospects for global growth are astounding, and I am honored to have been appointed its Board,” said Gillen.
Alex Kuo was first hired as a consultant in 2009. He introduced and facilitated the acquisition of MEGAsys, the Company’s subsidiary in Taiwan. Shortly after the completion of the acquisition, the Company hired Kuo in May 2011 as Senior Vice President of Global Strategies. He was recently promoted to Chief Strategy Officer. Kuo has 20 years of executive experience at Acer Group. Prior to Acer, he was General Manager at Servex/Anextek. He also held Vice President and Senior Vice President positions at China Security and Surveillance Technology (NYSE:CSR), FalconStor Software (NASDAQ: FALC), and Global Data Solutions, Co. Kuo also serves as an instructor at the Cloud Computing Industry Association of Taiwan. Kuo received his Master of Science and Technology Innovation Management degree at GeorgeWashingtonUniversity and his undergraduate degree at NationalTaiwanUniversity.
“In my role as a consultant and subsequently as member of the Company’s management team, I have been bridging business connections built over the years in Asia with Iveda Solutions. In my capacity as a director on the Board, I’ll have direct influence on the strategic decisions the Company will be making,” said Kuo.
Alejandro Franco has been helping the Company with business development and strategic partnership opportunities in Mexico as a consultant for over a year prior to his appointment to the Board. He has been advising and facilitating the Company’s negotiations with a telecommunication company in Mexico. Franco has twenty six years of cross-industry experience with leading start-up and high-growth companies. He is known for delivering strong and sustainable revenue and profit gains in highly competitive markets throughout the U.S., China, Taiwan, Mexico, and Brazil. He has extensive experience in leading large-scale, complex, global operations in these countries. Franco is the president and founder of Amextel (Mexico). He was also the founder and president of TVM, Inc. (Mexico) from 1985 to 1988 and Bela Corp. (U.S.) from 1988 to 2000. Franco also works as a consultant to America Movil (NASDAQ:AMOV) in Mexico, Streamibox in the U.S., Glory Inc. in Taiwan, and Heng Tong, Eastcompeace, and ZTE in China. Franco has a degree in Economics from the UNAM University in Mexico, a degree in Industrial Design from the Ibero University in Mexico, and Masters in Theology from Oblate University in San Antonio, Texas.
“Iveda Solutions has gained traction in Mexico with their cloud video surveillance services, and I believe that the Company can expand their services to the rest of Latin America. As a member of the Board, I am well positioned to advise and shape the Company’s business strategies in the region,” said Franco.
“Iveda Solutions’ future is literally in the ‘cloud.’ Leveraging their worldwide partners, their Safe Citi™ program, and their SAFETY Act Designation, the business opportunities are staggering. This, I believe, will ensure Iveda Solutions’ continued leadership in the field,” added Gillen.
Iveda Solutions is the pioneer in cloud-based video hosting and real-time remote surveillance services. The Company has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology.
About Iveda Solutions
Iveda Solutions, Inc. (OTCBB:IVDA) is a premier online surveillance technology innovator and Managed Video Services provider. Based in Mesa, AZ, the company develops and markets enterprise class video hosting and real-time remote surveillance services. Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 480-307-8700 or visit www.iveda.com.
This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors. The Company’s business is subject to significant risks and uncertainties discussed more thoroughly in Iveda Solutions’ SEC filings, including but not limited to, its report on Form 10-K for the year ended December 31, 2010 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 read such factors carefully. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Luz A. Berg
COO & CMO