SOURCE: Iveda Solutions

Iveda Solutions

July 07, 2011 14:03 ET

Iveda Solutions Taiwan (MEGAsys) Completes New Taipei City Project

MESA, AZ--(Marketwire - Jul 7, 2011) - Iveda Solutions (OTCBB: IVDA) announced today that MEGAsys, the Company's subsidiary in Taiwan, completed the deployment of the Monitoring Center and video surveillance systems integration for the New Taipei City Police Department. Testing of the new system is currently underway. The contract is expected to result in revenues to MEGAsys of approximately $800,000 in the third quarter of this year.

"We were able to earn the trust of the government for a large project such as this because our team represents video surveillance and system integration expertise and has earned us industry recognition in Asia for similar deployments," said I.H. Shiau, Chairman of MEGAsys.

The project, which started in February 2011, consisted of system software integration, conference and broadcasting system, and central monitoring center, complete with display wall system installation and integration.

Taipei City's surveillance system consists of over 13,000 surveillance cameras and 3,353 digital video recorders that are integrated into a single camera management platform, taking into consideration existing network and information compatibility, new technologies, and future operational requirements. The integration is designed to allow for future management of 10,000 additional cameras that the City specified. The platform uses virtualization technology, which protects all applications and includes built-in fault-tolerance capabilities.

MEGAsys created a private cloud to centrally manage the entire system. The network needed to accommodate presets by the county police, 16 branches, and 157 sub-station junctions.

"This is a huge project and a culmination of many technologies in Taiwan, coupled with years of experience of the MEGAsys team, deploying safe city projects in Asia," said David Ly, president and CEO of Iveda Solutions.

About Iveda Solutions
Iveda Solutions, Inc. (OTCBB: IVDA) is a premier online surveillance technology innovator and Managed Video Services provider. Based in Mesa, AZ, the company develops and markets enterprise class video hosting and real-time remote surveillance services. Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 800-385-8618 or visit www.ivedasolutions.com.

About MEGAsys Taiwan

Sole-Vision Technology, doing business as MEGAsys Taiwan, was founded in 1998 by a group of sales and R&D professionals from Taiwan Panasonic Company. MEGAsys designs and integrates electronic security and surveillance products, software, and services. MEGAsys is a wholly-owned subsidiary of Iveda Solutions, Inc. For more information visit http://www.tdi-megasys.com/english/

This news release contains forward-looking statements, such as the amount of expected revenues to be derived by Iveda Solutions from this relationship, the extent and benefits of the deployment and other matters. Actual results could vary materially from those expected due to a variety of risk factors. The Company's business is subject to significant risks and uncertainties discussed more thoroughly in Iveda Solutions' SEC filings, including but not limited to, its report on Form 10-K for the year ended December 31, 2010 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 read such factors carefully. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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