Iveda Gains Momentum into 2017 with $2.6 Million Safe City Projects with Taiwan's Chunghwa Telecom
December 15 2016 - 8:00AM
Marketwired
Iveda Gains Momentum into 2017 with $2.6 Million Safe City
Projects with Taiwan's Chunghwa Telecom
MESA, AZ-(Marketwired - Dec 15, 2016) - Iveda (OTCQB: IVDA),
worldwide enabler of cloud-based video surveillance and data
management through the licensing of its Sentir platform, today
announced three contracts signed totaling US $2.6 million for safe
city projects in Taiwan. The contracts were awarded by Chunghwa,
the largest telecom in Taiwan, to MEGAsys, Iveda's wholly-owned
subsidiary in Taiwan. Iveda anticipates its Taiwan-based subsidiary
will achieve profitability in 2017 with these projects.
"With the new projects secured in Taiwan, the 2000 ZEE camera
purchase from Vietnam telecom VNPT and the 1,000 ZEE camera
purchase from Philippines telecom PLDT announced just last month,
we are excited about 2017," said David Ly, CEO of Iveda. "This is
just the beginning. Our Taiwan subsidiary has been working
diligently to support all our Asia business and close these local
contracts. We've been working with our local partners in these
Asian countries for months to build this momentum. It's paying off
and we anticipate other projects coming into fruition in the next
few months."
The three new Chunghwa Telecom contracts are part of the
continuing government safe city initiatives to improve safety and
quality of life throughout Taiwan. Iveda is utilizing its SafeCiti
solution consisting of its IvedaEnterprise and Sentir cloud
platforms to fulfill the requirements of the Taiwan Government.
IvedaEnterprise, Iveda's enterprise-class centralized video
management platform, is ideal for private cloud deployments and
Sentir is its cloud platform that utilizes simple plug-and-play IP
cameras.
The largest (approximately US $1.2 million) of the three
projects is in Kaohsiung City, a massive port city about 225 miles
south of Taipei. The project will commence in January 2017 and is
slated to be completed by September 2017. It is an expansion of the
Construction Site Compliance Policy that Iveda successfully
implemented in Taipei City this year and in 2015. Similar to the
Taipei City project, Iveda will provide live surveillance of
hundreds of government-funded construction sites in Kaohsiung City.
The city government will purchase about 300 of Iveda's ZEE cameras
and Sentir platform licenses.
These ZEE cameras are customized with self-sufficient housing
and tripod stand including solar-powered battery and cellular data
modem for wireless video transmission to the Sentir platform. In
addition, Iveda will establish a central monitoring facility for
remotely monitoring the construction sites and reporting any
incidents or emergencies, utilizing the Sentir platform. Chunghwa
telecom will provide 3G/LTE connectivity.
Citizens will be able to access live video from construction
sites via a smartphone app, using a universal login, which will be
posted at construction sites. They will be able to take snapshots
of videos and save to their phones. The government will have full
access to live and 180-days recorded video from a web browser or
smartphone app and will receive event notifications. Sentir was
designed to be scalable and flexible, allowing multiple access
levels and security protocols. This deployment will have an
additional 1,200 TB (terabytes) of data storage to the video
hosting infrastructure and an expansion of the central video
display system.
The other two contracts commenced November 2016 and have a
target completion date of August 2017. The government is expanding
remote management and security surveillance of two more water
pumping stations in Taipei City. Iveda is designing and deploying a
complete video and audio infrastructure for managing outdoor
surveillance applications at both facilities. The two sites will
have a combination of 340 stationary and pan tilt zoom IP cameras
networked through nineteen IvedaEnterprise NVRs with just over 450
TB (terabytes) of data storage. The centralized system will also
have PA (public address) and conferencing capabilities. Chunghwa
will provide the fixed and cellular bandwidth.
"With our proven track-record in safe city deployments in
Taiwan, we expect to win more of these kinds of projects as the
Taiwan government continues to expand on their safe city
initiatives throughout the country. We see similar trends not only
in Taiwan, but throughout Southeast Asia," said Ly.
Iveda, Sentir, SafeCiti, IvedaEnterprise and ZEE are registered
trademarks of Iveda Solutions, Inc. All other trademarks are
property of their respective owners.
About Iveda Iveda (OTCQB: 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.
Contact: Iveda Luz A. Berg Chief Marketing Officer 480 307-8700
lberg@iveda.com