For Immediate Release
MESA, Ariz. (May 19, 2016) – Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance and data management through the licensing of its Sentir® platform, today announced that its Taiwan subsidiary, MEGAsys was awarded a contract by Chunghwa Telecom’s Enterprise Business Group. The award is for NT$ 7 million (approximately US $216,000) to once again collaborate on construction projects in Taipei City. This is in addition to the US$1.5 Million-contract completed at the end of last year. The new contract is expected to be completed by September 30, 2016 and includes the purchase and installation of 500 ZEE® cameras to be placed at more construction sites throughout the city. This is in addition to the initial purchase of 460 ZEE cameras.
Last year, Sentir was implemented to comply with the new policy instituted by the Taipei City government which requires construction companies to have publicly-accessible cameras for live video at every government-funded construction site. Sentir allows citizens to watch their tax dollars at work, monitor progress and potential environmental hazards, provide input and lodge complaints if necessary.
“The wireless ZEE camera solution we implemented was beyond Taipei City’s expectations and proved to be very effective. It was a perfect solution to manage a large number of cameras and to enable simultaneous public access to live video at the construction sites,” said David Ly, chairman and CEO of Iveda. “As we anticipated, the new policy presented more opportunities for widespread use of Sentir in construction projects in the region.”
These construction sites utilize Chunghwa’s cellular data network for ZEE camera connectivity, which provides versatility for use anywhere. Site managers and project teams can now efficiently manage multiple sites remotely, on a single online dashboard using ZEE cameras, instead of physically visiting every construction site. Once each construction project is complete, the cameras can be easily moved to a new location.
Not only can wireless ZEE cameras be used for construction site monitoring, they may also be used as a temporary or permanent surveillance solution where there is no fixed Internet connectivity. The portability and wireless feature of the ZEE plug and play cameras, utilizing cellular router and battery pack, are ideal for oil and gas well sites, law enforcement, border patrol, parks and recreation, gas pumps, convenience stores, parking lots, special events, remote gates, ranches and other similar applications.
Since the wireless ZEE cameras can be a self-contained camera system with recording, cloud storage and access management, the end user saves time and money compared to traditional CCTV/DVR systems. There is no DVR to maintain, no Internet cabling to run and solar power is an option. The solution is ideal for use in remote areas.
For the telecom resellers, aside from video surveillance cameras and hosting service revenue, this product/service combination can also increase their wireless data revenue.
“Sentir’s demonstrated effectiveness led to the expansion of the original contract and we anticipate more opportunities in the region for similar video surveillance applications where versatility is required,” added Ly.
Iveda, MEGAsys, 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