Vimicro & State Grid Hunan Electric Power strategic alliance agreement signed

Vimicro International, a video surveillance technology and solution provider in China, announced that the company has signed a strategic alliance agreement with State Grid Hunan Electric Power to jointly develop video surveillance applications and systems for the electric power industry based on China's national SVAC (Surveillance Video and Audio Coding) video surveillance technology standard.

Dr. John Deng, Vimicro's Chairman and CEO, commented, " Given heightened concerns for public security in China and the central government's push for the nationwide adoption of this national standard, Vimicro will continue to benefit from the accelerated adoption of SVAC-compliant video surveillance products by a growing number of provinces and industries. We also aim to further leverage our first-mover advantage and brand recognition in China's marketplace in order to create long-term value for our shareholders."