SOURCE: Iveda

Iveda

December 11, 2014 10:04 ET

Iveda Granting Exclusive License to Wolfcom Body Cameras for Live Video Streaming, Direct to Cloud Storage

MESA, ARIZ.--(Marketwired - Dec 11, 2014) - Iveda® (OTCQB: IVDA), a leading enabler of cloud-based video surveillance through its Sentir™ platform, today announced its partnership with Wolfcom Enterprises, manufacturer of body-worn cameras based in Hollywood, California. The partnership will include mutual exclusivity based on an undisclosed minimum of Sentir-enabled body cameras. Iveda's revenue model is based on a monthly license fee per device.

The partnership will offer next generation integration of proprietary cloud technology into a body camera, enabling cloud storage and access to live video. Wolfcom body cameras with WolfcomCloud, the new cloud video storage service, will be available for distribution in January 2015. The next phase of the integration, available in the first quarter of 2015, will include WolfcomLive, real-time streaming video direct to cloud storage.

"This is a very exciting and pivotal moment in body camera technology. Our partnership with Iveda is happening just as we are poised to dominate the Law Enforcement body camera market. We are at the right place, at the right time, with the best technology; this partnership has just sealed our destiny as the industry leader in both body worn camera and cloud video surveillance technology," said Peter Onruang, president of Wolfcom Enterprises. "We expect strong sales in the first quarter of 2015, followed by phenomenal growth throughout the rest of the year into 2016. Our current annual 200% growth rate is anticipated to triple as we come into this profitable market with our combined technologies."

"It was an easy decision for Iveda to partner with Wolfcom because they have superior patent-pending body cameras, full of functionality, light-weight and small form factor. Their body cameras are more affordable than most leading brands," said David Ly, chairman and CEO. "We look forward to filling the needs of Wolfcom's customers and helping them gain additional market share of the estimated $500 million market in the United States and $2.5 billion worldwide."

Wolfcom's multi-purpose body cameras can be used as a standalone video recorder, an in-car video system or it can be attached to a police radio to use as both body camera and speaker microphone with PTT (push to talk) function. The body cameras can be used to record 1080p video, photograph crime scenes, record audio statements, peek around corners, or for geolocation by tagging video using its GPS feature.

Through Iveda's Sentir platform, Wolfcom's body cameras will be able to transmit live streaming video instantaneously to the cloud without additional software or hardware. The added functionality of live video will allow headquarters to assist an officer in distress during an ongoing event. This new feature is unique when compared to other after-the-fact solutions. Other solutions require an officer to return to headquarters to download video to a docking station before it can be uploaded to the cloud. Should a Wolfcom body camera get damaged or lost before an officer can return to headquarters, WolfcomCloud ensures the video is preserved.

"Wolfcom will be the very first body camera manufacturer in the world to offer our new 'WolfcomLive,' powered by Iveda -- the technology that will allow police commanders to view real-time video footage from an officer's body camera in the field. Our 20-plus distributors worldwide have been asking for cloud storage as well as live streaming video and we are very excited to finally deliver this feature," added Onruang.

Wolfcom services the military, law enforcement, private investigators and consumers with its Wolfcom 3rd eye and Wolfcom Vision body cameras. The newer Wolfcom Vision is the first body camera in the world with patent-pending Critical Reconnect Technology (CRT), which automatically resumes recording of audio and video should the unit become inoperable during a struggle with a suspect. Likewise, it is equipped with patent-pending Anti Video Deactivation Technology (AVD), which allows the unit to continue to record should the unit be accidentally turned off during a struggle with a suspect. Wolfcom is also the first body camera manufacturer utilizing NANO Technology to protect cameras from dust, rain, humidity, sweat, sand, and other liquids.

Iveda is a registered trademark of Iveda Solutions, Inc., Sentir is a trademark of Iveda Solutions, Inc. All other trademarks are property of their respective owners.

About Iveda

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 (800) 385-8616 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions, www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.

About Wolfcom Enterprises

Founded in 2001, Wolfcom Enterprises has launched innovative products for private investigators, law enforcement, military and consumers. The Company's expertise has been in audio, video, security surveillance, night vision cameras, digital video recorders, and covert pinhole wireless spy cameras. Wolfcom's body cameras are designed and assembled at their headquarters in Hollywood, California. For more information (323) 962-1061 or visit www.PoliceBodyCameras.com.

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.

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