SOURCE: Iveda

Iveda

March 29, 2016 09:00 ET

Iveda Sells Cloud Video Surveillance Into Nigeria

MESA, ARIZ.--(Marketwired - Mar 29, 2016) - Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance and data management through licensing its Sentir® platform, today announced its partnership with Sahara Networks (W.A.) Ltd. based in Lagos Nigeria. For the past few months, Iveda has been working with Femi Odumabo, Sahara Network's principal, to introduce cloud video surveillance in West Africa. Odumabo is a retired executive of Chevron Nigeria Limited.

Sahara Networks is conducting a proof of concept project with one of the largest telecommunications company in Nigeria (with nearly 170 million subscribers in the Middle East, Africa and Asia). The proof of concept will consist of ZEE® plug-and-play cameras throughout Nigeria, hosted in the cloud utilizing the Sentir platform. The telecom will identify key features and functionality of ZEE and Sentir to promote to their diverse subscriber base, as well as develop appropriate marketing plans.

"We are replicating our Asia Telecom business model in Africa, offering quality contract manufactured cameras and licensing our Sentir platform. We are following our model of working with local partners to manage day-to-day business with the local telecoms," said David Ly, CEO of Iveda. "We are fortunate to work with Mr. Odumabo, who is a reputable public figure in Nigeria from his tenure at Chevron, to represent Iveda in the region."

Iveda recently sold and delivered 30 ZEE cameras to be used for the proof of concept. The telecom anticipates purchasing additional ZEE cameras to sell in the region during the three-month proof of concept project to assess the market demographics. Sahara also purchased IvedaHome home automation and security systems for the proof of concept.

"Prior to engaging with Iveda, I did an extensive research and I found that the Nigerian market, along with other West African countries, is ready for cloud video surveillance technology. The market scale is likely hundreds of thousands annually," said Odumabo. "The safety and security conditions in the region for ordinary citizens and business owners created a demand for a simple and inexpensive video surveillance solution that is effective, wherein recorded video is safe in the cloud versus on site."

In addition to this proof of concept with a particular telecom, Sahara is also actively engaging with other telecom providers in West Africa.

"I am confident that once the proof of concept project is successful the telecoms will buy and offer cloud-hosted ZEE cameras to their subscribers. The region is in dire need for this solution," added Odumabo.

Iveda, Sentir and ZEE are registered trademarks of Iveda Solutions, Inc.  All other trademarks are property of their respective owners.

About Iveda

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.

Contact Information

  • Contact:

    Iveda
    Luz A. Berg
    Chief Marketing Officer
    480 307-8700
    lberg@iveda.com