SOURCE: Iveda

Iveda

June 25, 2015 02:00 ET

Iveda Wins $544,000 Contract at Taiwan Stock Exchange

MESA, ARIZ.--(Marketwired - Jun 25, 2015) - Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance through licensing its Sentir® platform, today announced that MEGAsys® (Iveda Taiwan) has secured a new US$544,000 contract to establish cloud video surveillance and access control systems at the Information Center of the Taiwan Stock Exchange in Taipei. The project is an expedited short-term project expected to be completed in about three months, with an anticipated completion in September 2015. The project is in the same facility as the US$1.4 million longer term contract announced by Iveda at the end of 2014 that is currently in process and scheduled for completion within 2015. 

"Iveda Taiwan, our wholly owned subsidiary, has more than $5.5 million of announced contracts for 2015 thus far compared to approximately $1 million in 2014," said Bob Brilon, president and CFO of Iveda. "Iveda Taiwan's focus on larger contracts is delivering results for our top and bottom line."

Iveda Taiwan will collaborate with Achievable Interior Design, Co., Ltd., the project's prime contractor on establishing communication network systems engineering and video surveillance and access control systems into a private cloud. The project calls for a video wall system that will provide centralized management and access.

Iveda's U.S. operation is concentrating on enabling worldwide service providers, via our Sentir software platform, to offer plug-and-play cloud video surveillance offerings to consumers and enterprise-level customers, while Iveda Taiwan engages in system integration including large "safe city" and private cloud deployment projects. This trend is consistent with demands for smart cities around the world that call for scalable centralized video management platforms to handle big video data.

Iveda, MEGAsys, and Sentir 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® 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 service providers 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 wholly-owned 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.

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

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