Ittiam announces induction of Dr. Lip-Bu Tan to company board

INDIA: Ittiam Systems announced the induction to the company board of Dr. Lip-Bu Tan, chairman of Walden International, 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 voard 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 IT 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."