Iveda Exclusive Latin America Distribution Partner Anticipates $6M for 2024 with $30M in Recurring Revenue in Future Years
Retrieved on:
Wednesday, February 28, 2024
Iveda ® (NASDAQ:IVDA), the global solution for cloud-based AI, proudly announces that Logistica Corporativa Agua Azul––part of the Grupo Desson portfolio, Iveda’s exclusive Latin American distribution partner––anticipates $6M for 2024 with $30M in recurring revenue over five years.
Key Points:
- Iveda ® (NASDAQ:IVDA), the global solution for cloud-based AI, proudly announces that Logistica Corporativa Agua Azul––part of the Grupo Desson portfolio, Iveda’s exclusive Latin American distribution partner––anticipates $6M for 2024 with $30M in recurring revenue over five years.
- The exclusive nature of Iveda’s relationship with Grupo Desson is related to a $44M agreement announced in February 2023 to bring in 100 new customer locations every year, implemented with recurring revenue streams.
- In doing so, the partner maintains the exclusive nature of the partnership throughout the first 20 years of the collaboration.
- As Iveda continues enabling metropolitan areas across the globe to achieve true smart city status, the organization’s exclusive Latin American distribution partner remains critical in the facilitation of relationships necessary to execute mutually beneficial, long-term contracts.