Iveda Inks AI Video Search & IoT Technology Deal With Latin American Firm

  • Iveda Solutions, Inc (NASDAQ: IVDA) struck a 20-year, exclusive distribution agreement, creating a physical security partnership with Logistica Corporativa Agua Azul, part of the Grupo Desson portfolio, effectively bringing innovative AI video search and IoT technology to the Latin American market.

  • The contract aims to bring in 100 new customer locations annually, to be implemented with recurring revenue streams.

  • Iveda expects to generate a minimum of $44 million throughout the first 20 years of the collaboration.

  • The AI-powered technology allows faster and more efficient searches of video footage, empowering Grupo Desson to successfully resolve customer pain points while detecting potential threats in real-time.

  • This news comes on the heels of the deployment of $1 million in Iveda smart city technology across Taiwan as Iveda continues to expand its global footprint in AI, IoT, and smart city innovation.

  • Price Action: IVDA shares traded higher by 7.31% at $2.2750 on the last check Monday.

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This article Iveda Inks AI Video Search & IoT Technology Deal With Latin American Firm originally appeared on Benzinga.com


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