Iveda and Chunghwa Telecom Partner for $1.5 Million Cloud-Video Surveillance Contract
Marketwired
MESA, ARIZ.--(Marketwired - Apr 2, 2015) - Iveda® (OTCQB: IVDA), enabler of cloud video surveillance through licensing the Sentir™ platform, announced today that its Taiwan subsidiary, MEGAsys, was awarded a contract by Chunghwa Telecom to collaborate on a $1.5-Million project for Taipei City. Iveda's Zee® cloud cameras, powered by Sentir video management platform, will be used to provide live surveillance of hundreds of government-funded construction sites in Taipei City. Iveda will build the Sentir cloud infrastructure including a 1200-terabyte storage system, while Chunghwa will provide the bandwidth. The project will commence in June 2015.
Sentir is being implemented to comply with the new policy instituted by the Taipei City government which requires construction companies to have publicly-accessible cameras for live video at every government-funded construction site. Sentir will allow citizens to watch their dollars at work, monitor progress and potential environmental hazards such as excess dust. This allows citizens to provide input and lodge complaints if necessary.
"The Sentir cloud-based platform is a perfect solution to manage large number of cameras in multiple locations and to enable simultaneous public access to live video at the construction sites," said David Ly, chairman and CEO of Iveda. "The new policy presents a huge opportunity for widespread deployment of Sentir, not only in Taiwan but municipalities around the world, providing transparency to government-funded projects to its constituents."
Taipei City government will purchase Iveda's Zee cameras and license the Sentir platform for the construction sites; construction companies are expected to provide 3G/LTE connectivity. In addition, a central monitoring facility will be required with a manager or administrator to remotely monitor the construction site via Sentir, to report on any emergency.
Citizens will be able to access live video from the construction sites from a smartphone app, using a universal username and password, which will be posted at the construction sites. They will be able to take snapshots of videos and save on their phones. The government will have full access to live and 180-days recorded video from a web browser or smartphone app and get event notifications. Sentir was designed to be scalable and flexible, allowing multiple access levels and security protocols.
The initial purchase of 460 Zee cameras will be used in construction projects in Taipei City. The new Taipei City policy is expected to be a standard policy throughout Taiwan. Sentir was chosen for the project because of its robust and scalable cloud video management platform, necessary to handle the traffic of simultaneous video access by the citizens and administrators.
Sentir-enabled, plug and play Zee cloud cameras are ideal for temporary construction site application for its ease of deployment. Access to live and recorded video can be achieved within minutes of providing power and Internet connection. Installation of digital video recorder (DVR) or software is not required at every construction site. Sentir does all the processing and recording of video in the cloud at the service provider's data center.
"With Sentir utilizing telecom infrastructure, these kinds of applications can be implemented on a large-scale for practical use with greater ease and less cost," said Ly.
In addition to Zee cameras, IvedaMobile® will be utilized for real-time inspection and remote support on job sites. Sentir-hosted, IvedaMobile enables smartphones and tablets to be a mobile video and audio transmitter for instant sharing. Iveda will earn a monthly fee for this service.
"This is the fourth significant 2015 project that we have announced in Taiwan with an accumulated value of approximately $5 million compared to revenues of just over $1 Million in 2014 from our Taiwan subsidiary," said Bob Brilon, president and CFO of Iveda. "We are proud of our team in Taiwan and the significant increase in year-over-year revenue projects. This municipal government contact award is a testament to the benefits of Sentir. Globally, our current and future telecom customers installing Sentir can offer this feature to their municipal government customers."
Iveda, Zee and IvedaMobile are registered trademarks 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 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 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. 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.
