Iveda executes exclusive $44M distribution agreement with Logistica Corporativa

Iveda announced a 20-year, exclusive distribution agreement, creating a physical security partnership with Logistica Corporativa Agua Azul–part of the Grupo Desson portfolio–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. "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."