Iveda and Third Largest Vietnam Telecom Launch $2 Million of Home Automation – CNNMoney
Iveda® (OTCQB: IVDA), worldwide enabler of cloud-based video surveillance through licensing its Sentir® platform, executed a licensing and reselling agreement with Vietnam-based FPT Telecom, Inc. “The agreement represents a minimum of 10,000 devices and monthly Sentir licenses for cloud management within one year. The hardware revenue is anticipated to represent approximately $2 million of IvedaHome (smart home automation system). The monthly recurring Sentir license fee is $3 per month as each system is activated which will equate to $360,000 annually,” said Bob Brilon, Iveda president and CFO.
“IvedaHome, a cloud-based home automation system, was on our roadmap for this year, but FPT Telecom’s demand has accelerated this initial launch. FPT Telecom’s target market is their millions of residential customers throughout Vietnam,” said David Ly, Iveda chairman and CEO.
The system is wireless and simple to install for the consumers. IvedaHome gives the consumer alerts, video access and remote control from their smartphone or tablet. IvedaHome wireless sensors and modules can include motion detection, door/window sensors, smoke detectors, sirens, video surveillance as well as controlling lights and appliances. IvedaHome provides peace of mind security and life conveniences.
“Our global customers, the Telecoms and Data Centers, see our Sentir platform as their path to add product offerings and increase market share with minimal investment. There are several competitors in the home security and convenience market but aligning with these large service providers with millions of established customers creates a win-win scenario,” said Ly.
FPT’s core business sectors are IT and telecommunications, providing services to Vietnam’s 63 provinces and 19 other countries. FPT employs more than 24,000 employees and serves 40 of the Fortune 500 companies. Its telecom division, FPT Telecom, is one of the three leading telecommunications service providers in Vietnam, serving 59 out of 63 provinces and with international connections to China, Hong Kong, Japan, Singapore and the U.S.
Iveda and Sentir are registered trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCQB: IVDA) enables cloud video surveillance by licensing its Sentir® video and data 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.