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Iveda(R) Awarded Multi-Million Dollar, Multi-Year Contract for Cloud Video SurveillanceIveda's Sentir(TM) Cloud Platform to Manage Security of Multiple Facilities Throughout 10,000-Acre Development (February 04, 2014)
MESA, AZ -- (Marketwired) -- 02/04/14 -- Iveda® (OTCQB: IVDA), the pioneer in cloud video hosting technology, today announced that it has been named prime contractor for the deployment of a private cloud video surveillance security system at a new entertainment and multi-use development and construction project in the Southeast region of the U.S. The project is scheduled to break ground in the first quarter of this year. Per the signed agreement, Iveda may not disclose the specific nature or location of the project until such information is publicly released by the development company.
According to the contractual agreement, a blanket initial purchase order for a minimum of $1 million will be issued to Iveda to enable surveillance of day-to-day construction progress and the security of equipment, materials, and the construction site as a whole. Fulfilment of the initial purchase order is expected to commence in the second quarter of 2014, once infrastructure elements are in place.
Under the terms of the multi-year agreement, during and after the construction phase, Iveda will design and implement a private cloud-based system that will integrate the video surveillance of multiple facilities within the 10,000-acre development project, as well as ancillary facilities in the Master plan. The security systems will be managed and controlled at central and decentralized command and control facilities including mobile command and control platforms.
Iveda will design and source video hardware solutions for the various components of this expansive development utilizing Iveda's Sentir proprietary cloud platform. Sentir includes a multi-browser universal user interface (UI) that simplifies management and access to disparate components. The Sentir control panel centralizes management and access to multiple video sources, including video from in-vehicle systems, smartphone/tablet-based mobile cameras, and traditional surveillance cameras sourced from various manufacturers. Live and recorded video can be accessed by authorized users on any Internet-enabled PC, tablet or smartphone.
The platform represents one of the most cost-efficient and securely managed central command and control systems currently available in the security industry. Iveda will assist in designing and building the central monitoring facility and will be involved in the training of monitoring personnel. The Company's expertise in this arena derives from its provision of real-time remote surveillance services (IvedaSentry) to customers since 2003.
"This agreement, along with a multi-year services agreement, will provide a true state-of-the-art security paradigm that does not exist today in the public non-governmental sector," according to one of the principals of the project.
"Security will be an extremely important component of this massive development project," said Richard Gibson, senior vice president of global sales at Iveda. "People need to feel safe when they go on family outings. Enhancing this feeling of safety with a minimum of inconvenience or intrusion will attract repeat visitors year after year, ensuring the long-term success of this expansive undertaking."
An important component of the system is the IvedaXchange alerting system, which provides centralized management and access to key information in real time. IvedaXchange filters and analyzes critical inputs from many different sources, such as 911 feeds, video feeds, vehicle GPS tracking, Amber Alerts, proprietary systems and social media feeds. IvedaXchange organizes critical information on a single dashboard to enhance overall situational awareness -- eliminating the need to manually review a multitude of informational sources. Additionally, IvedaXchange includes a user-defined protocol for alert distribution and management that can recognize and route alerts to the appropriate security employees, law enforcement and other emergency personnel.
Further details will be released after the public announcement of the project.
Iveda is a registered trademark of Iveda Solutions, Inc., The Iveda logo, Sentir, IvedaSentry and IvedaXchange are trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda (OTCQB: IVDA) is a premier cloud video hosting service provider, a technology innovator, and a provider of enterprise-class Video Surveillance as a Service ("VSaaS") solutions. The Company has received a SAFETY Act Designation from the Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider.
The Company is headquartered in Mesa, Arizona and has a subsidiary in Taiwan (MEGAsys). Its common stock trades on the OTCQB under the symbol "IVDA". For additional information call (800) 385-8616 or visit www.iveda.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, 2012 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 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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