Iveda Executes Exclusive $44M Distribution Agreement With Premier Latin American Security Firm

Iveda effectively brings AI technology to LATAM through initial security deployment with Grupo Desson

Mesa, Arizona, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI video and sensor technologies, today announced 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. Upon successful in-country implementation of Iveda technology, training, and launch, this contract aims to bring in 100 new customer locations every year, to be implemented with recurring revenue streams. In doing so, our partner will maintain the exclusive nature of the partnership, and Iveda expects to generate a minimum of $44M throughout the first 20 years of the collaboration. 

Grupo Desson, a Mexican multinational holding company, has become the first to work alongside Iveda to integrate and deploy one another’s resources, including but not limited to IvedaAI’s intelligent video search technology, enabling the organization to improve customer service for its security division. The AI-powered technology allows for faster and more efficient searches of video footage, empowering Grupo Desson to successfully resolve customer pain points while detecting potential threats in real-time.

IvedaAI and Grupo Desson work to leverage existing manpower and camera infrastructure to improve security and safety, freeing up significant time and resources for humans. Grupo Desson will complement Iveda’s technology to augment on-premise security guards through AI-enabled cameras that can detect and alert staff to abnormalities and unwanted activity within a specific area, notifying appropriate Grupo Desson first responders on site or dispatching as necessary. The technology will increase end-customer productivity and satisfaction, enabling cost savings for all parties involved.

“Through the continued adoption of AI––especially as more organizations lean into the technology to deliver critical services to customers––we’re seeing new, creative applications of our advanced, efficient technologies,” said David Ly, Iveda CEO and founder. “As our technology gets smarter through increased deployment, they become more efficient and, in turn, make environments safer. Iveda is proud to not only assist Logistica Corporativa Agua Azul/Grupo Desson and their customers in the deployment of AI-powered security, but to also bring this type of leading-edge technology to the Latin American market overall. We’re looking forward to the implementations and innovations both of our teams will achieve together over the next 20+ years of collaboration.”

Iveda’s technology has a proven track record of success in countries around the globe and Grupo Desson will continue to undergo the necessary deployments to further advance various customer environments to determine best practices for implementation and optimized use. Partnered with Grupo Desson, Iveda’s revolutionary AI technology––and subsequent cost-effective solution for security guard services through the use of AI video analysis––has the power to reduce labor costs, while enhancing individuals’ personal safety. Iveda’s capabilities also empower the security and safety of homes, businesses, and other assets, bringing new and progressive capabilities to Latin America. 

“As the leading armed, unarmed, and custodial security services provider in Latin America––serving the largest retail chains, as well as agricultural, industrial, precious metal manufacturers/suppliers, and more within Latin America and South America––Grupo Desson is excited to partner with Iveda on a multi-year distribution program,” said Gustavo Heguertty, Vice President of Business Development at Grupo Desson. “Iveda has established a strong reputation for proven AI technologies which aligns perfectly with Grupo Desson’s growing Artificial Intelligence, Security Services Portfolio. We look forward to working closely with the entire Iveda team to help us achieve our respective growth goals.”

Through this partnership, Iveda intends to set a new standard for the AI industry in LATAM, leading to further advancements in security technology across the region. This news comes on the heels of the deployment of $1M in Iveda smart city technology across Taiwan as Iveda continues to expand its global footprint in AI, IoT, and smart city innovation. 

About Iveda Solutions®
Iveda (NASDAQ:IVDA) is the provider of global solutions for cloud-based, video AI search and surveillance technologies that protect the people, places, and things that matter the most. Iveda’s technology has the power to provide instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, and environment preservation. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA”.

About Logistica Corporativa Agua Azul/Grupo Desson

Logistica Corporativa Agua Azul is the leading armed, unarmed, and custodial security services provider in Latin America––serving the largest retail chains, as well as agricultural, industrial, precious metal manufacturers/suppliers, and more within Latin America.


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