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Vimicro and the Ministry of Public Security signed a cooperation agreement on SVAC chips
04-07
Vimicro (Nasdaq: VIMC) announced today that it has signed an agreement with the First Research Institute of the Ministry of Public Security on the SVAC (Security Monitoring Digital Video and Audio Codec Technology Standard) chip agreement. The signing ceremony was held in Beijing on April 18. Many people from the First Research Institute of the Ministry of Public Security, as well as Vimicro CEO Deng Zhonghan and President Jin Zhaowei attended the ceremony.
The SVAC standard is one of the important achievements in the field of security monitoring, and it is also the only codec technology dedicated to security monitoring. In 2011, SVAC was identified as a national standard, and Vimicro and the First Research Institute of the Ministry of Public Security launched a cooperative development. So far, SVAC technology has been deployed in provinces such as Shanxi and Hebei to provide public safety, city management and other large-scale industrial applications. Recently, the Ministry of Public Security selected Guangdong Province for a national SVAC standard demonstration.
According to Vimicro, with the help of SVAC's mature technology and increasing recognition, the size of China's surveillance market in 2012 was about 300 million yuan (about 50 million US dollars), and the annual growth rate was about 20%. Vimicro will continue to work closely with the First Research Institute of the Ministry of Public Security to develop future national standards for SVAC.
Responsible editor: Zhao Bo