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Iveda Solutions Builds Indirect Sales Channel, Shares Recurring Revenue(June 19, 2012)
MESA, AZ -- (Marketwire) -- 06/19/12 -- Iveda Solutions (OTCBB: IVDA) announced today that the company is developing a national network of independent manufacturers' representatives to market its products and services. For the past eight years, while building its cloud video surveillance infrastructure, the company has been selling its products and services to end users directly. Now the company is well positioned to implement its long-term plan of building a solid indirect sales channel.
At the helm of this transition is Meghan Uhl, Iveda Solutions' National Sales Manager, who has over twenty five years of sales experience in the security industry, including building a national rep network for a technology company. Ms. Uhl's efforts have resulted in rep firms engaged to cover the states of California, Utah, Colorado, Idaho, Hawaii, North & South Dakota, Minnesota, Nevada, Arizona, New Mexico, Wyoming, Florida (including the Caribbean), and the city of El Paso, Texas. The company is in negotiations with other rep firms that will cover New York, New Jersey, and the New England states. The company's goal is to cover the entire U.S. within the next few months.
"I am pleased with Meghan's efforts and success in just the first two months of this initiative. Her personal and professional relationships with the major rep firms in the U.S. have been instrumental to her success," said Richard Gibson, Senior Vice President of Global Sales and Support.
Iveda Solutions intends to partner with representative firms focused on selling IP video systems to end users and integrators. As part of the rep network, the company will partner with local, regional, and national security integrators with strong sales, engineering, and installation teams.
The company is also looking to partner with contract guard service companies to provide remote live video surveillance options to their customers. The rep firms must have strong relationships with the design and integration community and with end users in their territories. Iveda Solutions will compensate the rep firms with a specified share of its recurring monthly revenue (RMR).
"Teaming up with experienced, industry-knowledgeable manufacturers' representatives will ensure that our solutions reach the best security dealers and integrators. We believe that this will accelerate our sales growth and further expand our cloud video hosting solutions nationally, while providing lucrative recurring monthly revenue for our reps. Iveda Solutions looks forward to becoming a reliable service provider and business partner to our reps," said David Ly, President & CEO of Iveda Solutions.
"Iveda Solutions is the pioneer in cloud-based video surveillance technology and now we are pioneering an RMR-based rep network to bring this technology to local markets. We are very excited about having a highly-motivated rep network with 'feet-on-the street' coverage," added Gibson.
About Iveda Solutions
Iveda Solutions, Inc. (OTCBB: IVDA) is a premier online surveillance technology innovator and Managed Video Services provider. Based in Mesa, AZ, with a subsidiary in Taiwan (MEGAsys), the company develops and markets enterprise-class video hosting and real-time remote surveillance services. Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 800-385-8618 or visit www.ivedasolutions.com.
This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors. Iveda Solutions' business is subject to significant risks and uncertainties discussed more thoroughly in Iveda Solutions' SEC filings, including but not limited to, its report on Form 10-K for the year ended December 31, 2011 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 read such factors carefully. Iveda Solutions undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Luz A. Berg
COO & CMO
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