Tuesday, March 20, 2012

Ittiam revenue crosses $20 million with royalties contributing over 35 percent

BANGALORE, INDIA: Ittiam Systems announced that its annual revenue crossed the $20 million mark for the fiscal year ending March 2012. Significantly, royalty income contributed to more than 35 percent of this revenue, highlighting the excellence achieved by the company with the Intellectual Property (IP) Licensing Business Model.

Founded in 2001, Ittiam has been a leading supplier of media processing and communication technologies for a wide range of applications including Smart Phones, 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. Ittiam’s “revenue per employee productivity” has crossed well over $100K, which is twice the typical productivity in the Indian IT industry. For the fiscal year 2011-12, the number of customers’ products embedding Ittiam IP reached an impressive annual run rate of 25 million 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 $5 million in 2001 from Bangalore, India based Global Technology Ventures (GTV) which has a successful track record of investment in Indian technology companies.

“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 of GTV.

The Indian IT industry is dominated by the large software services companies with global scale. In this scenario, the progress of new generation companies with intellectual property and product focus is observed keenly.

“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 CEO, Ittiam. “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.”

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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