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EE Times-India > EDA/IP

India's IT product firm Ittiam posts Rs.100 cr turnover

Posted: 22 Mar 2012     Print Version  Bookmark and Share

Keywords:IP  embedded software  systems design  IT product firm 

Bangalore-based Ittiam Systems, an embedded software and systems design firm that works on the Intellectual Property (IP) licensing business model, has reported Rs.100 crore ($20 million) revenue for the fiscal ending March 2012, with royalty income accounting for more than 35 per cent.

According to the company, "Ittiam's revenue per employee productivity has crossed $100K [Rs.49.50 lakh], which is twice the typical productivity in the Indian IT industry."

Founded by ex-MD of Texas Instruments India, Srini Rajam in 2001, Ittiam specialises in digital signal processing (DSP) based products. It is a supplier of media processing and communication technologies for a wide range of applications including smartphones, tablets, video communication & networking systems, media broadcast systems and Wi-Fi communication.

"The company has played a pioneering role in India to have successfully deployed the IP licensing model. For FY 2011-12, the number of customers' products embedding Ittiam IP reached an annual run rate of 25 million [2.5 crore] units."

In line with its strategy of focusing on value creation through intellectual property, Ittiam also tops the number of patents granted for an Indian IT company with 30 patents granted till date and a further 30 patent filings going through the patent review process.

Ittiam received its first venture capital investment of Rs.24.75 crore ($5 million) in 2001 from Bangalore- based Global Technology Ventures (GTV). "From the inception, we have been impressed by Ittiam's commitment and capability to build a differentiated technology company in the Indian product company landscape. The royalty impact achieved by Ittiam is unique. The company is well poised to scale greater heights in the years to come," commented VG Siddhartha, head, GTV.

"Ittiam has distinguished itself by its unwavering focus to build deep technology competencies in intellectual property and product design. This landmark is remarkable for Ittiam and is also an encouraging sign for the new generation technology companies in India," commented Prof. S. Sadagopan, director of Indian Institute of Information Technology Bangalore (IIIT-B).

"This achievement of Ittiam is a direct reflection of the world class talent base in our people and the outstanding quality of our customers who are leaders in their respective markets," said Srini Rajam, chairman and chief executive officer, Ittiam Systems.

"The imaginative IPs created by our engineers have been very well received in the markets through the innovative end products launched by our customers. We are now in a great position to grow further and create a global showcase for an IP company originating from India," he added.

Ittiam is continuing to make strong investments for growth in its established business segments and new areas such as automotive infotainment.

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