Iveda Solutions Jumpstarts the New Year With US $2.2 M SafeCiti(TM) Contract
MESA, AZ, Jan 11, 2012 (MARKETWIRE via COMTEX) –Iveda Solutions, Inc. /quotes/zigman/572475 IVDA -3.96% announced today that MEGAsys,its subsidiary in Taiwan, was awarded a remote digital videorecording systems engineering contract by the New Taipei City PoliceDepartment. the award is worth NT$ 66,511,768 (approximately US$2.2million) over the contract period. the New Taipei City PoliceDepartment project commences on January 13th and is expected to becompleted in June 2012.
“This is a great way to start the New Year and I am proud of our teamin Taiwan. We anticipate similar SafeCiti(TM) deployments in the U.S.and Latin America this year to leverage our successes in Asia,” saidDavid Ly, president and CEO of Iveda Solutions.
the project includes new cameras and existing camera integration,fiber network, city-wide camera and network engineering and design,field construction, and utilizing an existing NVR system.
“We have seen a high demand for salvaging existing infrastructure ascities around the world experience dwindling resources while the needfor enhanced public safety and security is on the rise. IvedaSolutions’ cloud centralization of traditional isolated and detachedvideo systems has enhanced utilization and improved capabilities forpolice work,” said Ly.
the network engineering design includes cameras on streetintersections and videos terminating in local police stations andutilizes the Internet and virtual public network (VPN) technology.the goal of the street intersection monitoring system is to recordpeople and vehicles, including license plate numbers. the cameras areequipped to achieve all-weather operation. the video resolution willbe set at 720×480 pixels and 15 frames per second. This allows policea clear identification of a vehicle’s license plate when subjectvehicle is moving at a speed of 80 kilometers per hour.
“Winning this project affirms MEGAsys’ ability to execute large andcomplex SafeCiti(TM) deployments. the New Taipei City PoliceDepartment entrusted this project to our company based on ourperformance with a similar, recently-completed project for theDepartment,” said Ching H. Fan, general manager of MEGAsys.
the project includes Wugu, Sanchong, Tamsui, Luzhou, Tucheng,Xindian, Xinzhuang, Ruifang, and Linkou district, New Taipei City.
the New Taipei City Police Department project is an example of howIveda Solutions’ cloud video surveillance solution is effectivelyintegrating all kinds of video systems into one managed videoplatform. Iveda Solutions is able to engineer a solution that takesinto consideration how video data is first obtained, processed,transported, secured, stored, distributed, and centrally managed. Thesolution provides functional tools for the New Taipei City PoliceDepartment to gain access to live and archived videos on demandthroughout its jurisdiction.
the contract also provides that the New Taipei City Police Departmenthas the right to expand the Project to additional cities within thenext two years at a cost of up to NT$76,806,591 (approximately US$2.5million).
This new project demonstrates MEGAsys’ dominance in SafeCiti(TM)deployments in the region.
About Iveda Solutions
Iveda Solutions, Inc. /quotes/zigman/572475 IVDA -3.96% is a premier online surveillancetechnology innovator and Managed Video Services provider. Based inMesa, AZ, with a subsidiary in Taiwan (MEGAsys), the company developsand markets enterprise-class video hosting and real-time remotesurveillance services. Iveda Solutions has a SAFETY Act Designationby the Department of Homeland Security as a Qualified Anti-TerrorismTechnology provider. for more information call 800-385-8618 or visit ivedasolutions.com .
This news release contains forward-looking statements. Actual resultscould vary materially from those expected due to a variety of riskfactors. Iveda Solutions’ business is subject to significant risksand uncertainties discussed more thoroughly in Iveda Solutions’ SECfilings, including but not limited to, its report on Form 10-K forthe year ended December 31, 2010 and its subsequently filed quarterlyreports on Form 10-Q. all forward-looking statements made herein arequalified by such risk factors and readers are advised to read suchfactors carefully. Iveda Solutions undertakes no obligation topublicly release the result of any revisions to these forward-lookingstatements, which may be made to reflect events or circumstancesafter the date hereof or to reflect the occurrence of unanticipatedevents.
Contact: Luz a. Berg COO & CMO Iveda Solutions, Inc. 480 307-8700 lberg@ivedasolutions.com
SOURCE: Iveda Solutions
mailto:lberg@ivedasolutions.com
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