Mr. Tan's extensive industry experience and global network to be an asset for the company in the next phase of its growth
Bangalore - May 7, 2013 - Ittiam Systems today announced the induction to the Company Board, Lip-Bu Tan, Chairman of Walden International which is a leading venture capital firm with $2 billion under management.
Founded in 2001 by a team of semiconductor industry experts, Ittiam has grown to be the largest pure-play IP company from India with world class leadership in video technologies and multimedia systems. It has a global customer base of over 300 companies. The volume of customer products such as smartphones, tablets, video communication systems and automotive infotainment systems with Ittiam IP embedded inside crossed 25 million units in 2012.
Welcoming Lip-Bu to the Board of Ittiam, VG Siddhartha, Head of Global Technology Ventures (GTV) which invested in Ittiam in 2001, said "I have had the pleasure of working with Lip-Bu for over 12 years including in our joint successful investment in MindTree Technologies. His extensive industry experience and global network will be very valuable for Ittiam in the next phase of its growth".
Looking forward to his association with Ittiam, Lip-Bu Tan commented "I am excited to join Ittiam initiative and will work with them closely to make Ittiam the best digital media technology and solutions provider for the global market. Ittiam is a fine example of new generation product companies who represent the next phase of Information Technology industry in India".
"Our vision is to deliver compelling solutions to customers who spearhead the growth of media creation, management and consumption", said Srini Rajam, Chairman and CEO of Ittiam Systems. "We are delighted to have Lip-Bu join our board. We will leverage his precious bandwidth to build great partnerships and long-term customer relationships", he added.
About Ittiam Systems Private Limited
Ittiam Systems Private Limited, headquartered in Bangalore, India, is a technology company singularly focused on embedded media centric systems. It operates through its network of offices and representatives around the world. Ittiam's customers include Fortune 100 companies and are distributed across U.S., Europe, Japan and Asia. Since 2004 the company has been consistently rated as the "World's Most Preferred DSP IP Supplier" in the annual surveys conducted by Forward Concepts Incorporated. In 2005 Ittiam had been selected by Red Herring into the top 100 private companies in Asia. In February 2007, Ittiam received the NASSCOM India IT Innovation Award, a prestigious recognition. In July 2011 Ittiam's VC won the Product of the Year 2010 from Communications Solutions. In January 2012 Ittiam won two Product of the Year 2011 awards from Internet Telephony. Embedding Ittiam IP inside, annual volume of customers' products shipped such as Smartphones, Tablets, Broadcast, Video Communication and Wi-Fi Devices is in several tens of millions units For more details, visit www.ittiam.com.