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MESA, AZ–(Marketwire – May 5, 2011) – Iveda Solutions (OTCBB: IVDA) announced today that the Taiwan Foreign Investment Committee Agency approved the company’s acquisition of Sole-Vision Technologies, doing business as MEGAsys Taiwan.
“This is a very important milestone for Iveda Solutions, officially marking our entry into the Asian market,” says David Ly, President and CEO of Iveda Solutions.
MEGAsys is a Taiwanese company specializing in deploying video surveillance systems for airports, commercial buildings, government customers, data centers, shopping centers, hotels, banks, and Safe City initiatives in Taiwan and other neighboring countries. Iveda Solutions provides enterprise-class cloud-based video surveillance to commercial and government entities in the US and Mexico. The union of the two companies is a win-win strategy. MEGAsys now has Iveda Solutions’ expertise in cloud-based video surveillance and access to the US markets for its products, while Iveda Solutions gains access not only to Asian markets, but Asian manufacturers, engineering expertise, and other suppliers.
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Article source: http://www.marketwire.com/mw/release.do?id=1510617&sourceType=3