MESA, Ariz. (June 19, 2018) – Iveda® (OTCMKTS:IVDA), worldwide enabler of cloud-based video surveillance and data management through the licensing of its Sentir® platform, today announced that its subsidiary in Taiwan, MEGAsys won and signed approximately US $2.4 million in contracts with two undisclosed government entities in Taiwan.
The first contract is for US $900,000 slated to start immediately and anticipated to be completed in 2018. The second contract is for approximately US $1.5 million, anticipated to be completed over three years. Iveda will upgrade outdated communications and video surveillance systems to the latest network technology standards. Due to the sensitivity of the projects, Iveda is unable to disclose the name of the two government entities.
“Iveda continues to service our current base of telecom customers via the licensing of our cloud video surveillance platform, while our Taiwan subsidiary concentrates on large government projects.” said David Ly, CEO of Iveda.
Iveda and Sentir are registered trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCMKTS:IVDA) licenses its Sentir® cloud video surveillance and data management platform. This enables service providers a plug-and-play cloud video surveillance offering for a monthly recurring revenue. Sentir utilizes a proprietary video streaming and Big Data storage technology. Iveda has a SAFETY Act Certification from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. 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, 2015 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