Iveda Executes Exclusive $44M Distribution Agreement With Premier Latin American Security Firm
February 13 2023 - 8:00AM
Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI video
and sensor technologies, today announced a 20-year, exclusive
distribution agreement, creating a physical security partnership
with Logistica Corporativa Agua Azul––part of the Grupo Desson
portfolio––effectively bringing innovative AI video search and IoT
technology to the Latin American market. Upon successful in-country
implementation of Iveda technology, training, and launch, this
contract aims to bring in 100 new customer locations every year, to
be implemented with recurring revenue streams. In doing so, our
partner will maintain the exclusive nature of the partnership, and
Iveda expects to generate a minimum of $44M throughout the first 20
years of the collaboration.
Grupo Desson, a Mexican multinational holding
company, has become the first to work alongside Iveda to integrate
and deploy one another’s resources, including but not limited to
IvedaAI’s intelligent video search technology, enabling the
organization to improve customer service for its security division.
The AI-powered technology allows for faster and more efficient
searches of video footage, empowering Grupo Desson to successfully
resolve customer pain points while detecting potential threats in
real-time.
IvedaAI and Grupo Desson work to leverage
existing manpower and camera infrastructure to improve security and
safety, freeing up significant time and resources for humans. Grupo
Desson will complement Iveda’s technology to augment on-premise
security guards through AI-enabled cameras that can detect and
alert staff to abnormalities and unwanted activity within a
specific area, notifying appropriate Grupo Desson first responders
on site or dispatching as necessary. The technology will increase
end-customer productivity and satisfaction, enabling cost savings
for all parties involved.
“Through the continued adoption of
AI––especially as more organizations lean into the technology to
deliver critical services to customers––we’re seeing new, creative
applications of our advanced, efficient technologies,” said David
Ly, Iveda CEO and founder. “As our technology gets smarter through
increased deployment, they become more efficient and, in turn, make
environments safer. Iveda is proud to not only assist Logistica
Corporativa Agua Azul/Grupo Desson and their customers in the
deployment of AI-powered security, but to also bring this type of
leading-edge technology to the Latin American market overall. We’re
looking forward to the implementations and innovations both of our
teams will achieve together over the next 20+ years of
collaboration.”
Iveda’s technology has a proven track record of
success in countries around the globe and Grupo Desson will
continue to undergo the necessary deployments to further advance
various customer environments to determine best practices for
implementation and optimized use. Partnered with Grupo Desson,
Iveda’s revolutionary AI technology––and subsequent cost-effective
solution for security guard services through the use of AI video
analysis––has the power to reduce labor costs, while enhancing
individuals’ personal safety. Iveda’s capabilities also empower the
security and safety of homes, businesses, and other assets,
bringing new and progressive capabilities to Latin
America.
“As the leading armed, unarmed, and custodial
security services provider in Latin America––serving the largest
retail chains, as well as agricultural, industrial, precious metal
manufacturers/suppliers, and more within Latin America and South
America––Grupo Desson is excited to partner with Iveda on a
multi-year distribution program,” said Gustavo Heguertty, Vice
President of Business Development at Grupo Desson. “Iveda has
established a strong reputation for proven AI technologies which
aligns perfectly with Grupo Desson’s growing Artificial
Intelligence, Security Services Portfolio. We look forward to
working closely with the entire Iveda team to help us achieve our
respective growth goals.”
Through this partnership, Iveda intends to set a
new standard for the AI industry in LATAM, leading to further
advancements in security technology across the region. This news
comes on the heels of the deployment of $1M in Iveda smart city
technology across Taiwan as Iveda continues to expand its global
footprint in AI, IoT, and smart city innovation.
About Iveda
Solutions®Iveda (NASDAQ:IVDA) is
the provider of global solutions for cloud-based, video AI search
and surveillance technologies that protect the people, places, and
things that matter the most. Iveda’s technology has the power to
provide instant intelligence to existing infrastructure, enabling
cities and organizations around the world to seamlessly enter the
fifth industrial revolution. Iveda operates at the forefront of
digital transformation of cities across the world, using IoT
platforms with smart sensors and devices developed to aid with use
cases surrounding public safety, security, elderly care, energy
efficiency, and environment preservation. Headquartered in Mesa,
Arizona, with a subsidiary in Taiwan, Iveda is publicly traded
under the ticker symbol “IVDA”.
About Logistica Corporativa
Agua Azul/Grupo Desson
Logistica Corporativa Agua Azul is the leading
armed, unarmed, and custodial security services provider in Latin
America––serving the largest retail chains, as well as
agricultural, industrial, precious metal manufacturers/suppliers,
and more within Latin America.
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Media ContactOlivia Civiletto
Erwinolivia@dottedlinecomm.com 617.477.9857
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