For Immediate Release
Mesa, Ariz. (December 19, 2014) – Iveda® (OTCQB:IVDA), a leading enabler of cloud-based video surveillance through its Sentir™ platform, is in active discussions and due diligence process with the largest telecommunications companies in Vietnam. The impending licensing agreements will enable these companies to offer their customers in Vietnam and surrounding countries, Iveda’s plug-and-play cloud cameras with viewing of live and recorded video on computers and mobile devices. The telecoms will bundle cloud-based live view and storage services with its existing service packages.
“These opportunities in Vietnam were only in our pipeline for the last few months via a Vietnam-based telecom liaison and have moved quickly to the final stages of Sentir implementation into the telecom’s data center for market launch,” said David Ly, chairman and CEO of Iveda. “With more than 100 million subscribers represented by these telecoms alone, we anticipate this region to be significant to our operations.”
The new offering will include Iveda’s Zee line of plug-and-play cloud cameras. Iveda’s standard licensing agreements require minimum camera activations when Sentir is installed into their private cloud. The initial orders would be 10,000 with a minimum of 50,000 in the first year. In addition to monthly licensing fee per camera, hardware revenues associated with these requirements are $1 to $1.5 million and $5 to $7.5 million respectively, depending on camera features.
According to a recent study, there has been a significant rise in the country’s online access over the last decade and Internet user penetration was estimated at 44% growth coming into 2014. The broadband segment growth has been particularly strong, especially in mobile wireless broadband. Over the years good progress has been made in the country’s broadband infrastructure.
Sean Nguyen, a local telecom liaison, said, “With the country’s improvement of broadband availability, I’ve been searching for the next sustainable telecom service to offer their customers. When I came across Iveda’s plug-and-play cloud video surveillance technology, I knew I found the perfect application to recommend to telecom companies in Vietnam.”
The telecom companies offer diverse services ranging from mobile, fixed lines, broadband Internet, home entertainment and satellite.
Iveda and Zee are registered trademarks of Iveda Solutions, Inc., Sentir is a trademark of Iveda Solutions, Inc.All other trademarks are property of their respective owners.
Iveda® (OTCQB:IVDA) enables cloud video surveillance via its Sentir™ Software as a Service (SaaS) video management platform, utilizing proprietary video streaming and Big Data storage technology. Iveda enables a recurring revenue model by licensing Sentir to organizations for plug-and-play cloud video offering to their customers. Iveda has a SAFETY Act Designation from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Iveda is 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, 2013 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