Taipei Exchange Market commissions Iveda for project

Iveda, worldwide enabler of cloud-based video surveillance and data management through the licensing of its Sentir platform, today announced that its Taiwan subsidiary, MEGAsys, was granted an NT$ 4.3 million (approximately US $130,000) project by Taipei Exchange Market, which is in process and expected to be completed by the end of June 2016.

The project involves replacing Taipei Exchange's existing video surveillance system with new IP cameras for centralized management of video onto a private cloud using Sentir. Sentir will establish a scalable video storage environment for future capacity requirements. An access control system and LCD displays will also be components of the project.

“As legacy systems need to be replaced and data security improvements become a necessity to better protect customer privacy and assets, there is an opportunity for Sentir to become the platform standard for these projects,” said David Ly, chairman and CEO of Iveda. “Last year, we completed a similar project for the larger Taiwan Stock Exchange.”

“In the Philippines and Vietnam, the larger projects to replace legacy systems and upgrade security are typically awarded to larger systems integrators such as telecommunication companies,” said Ly. “We anticipate our existing relationship with telecom companies in the Philippines and Vietnam and their working knowledge of Sentir will garner some mutually beneficial contracts,” added Ly.