Ittiam Systems launches operations – (Business Standard)
April 19, 2001
Business Standard, Bangalore – ICE Bureau
Ittiam Systems launches operations
Ittiam Systems Private Limited, a DSP systems company founded by Srini Rajam the former managing director of Texas Instruments India, today launched its operations. The company, headquartered out of Bangalore, has a subsidiary presence in the US and a representative presence in the UK.
Ittiam, standing for “I Think Therefore I am”, has been venture funded to the tune of $5 million by Global Technology Ventures. Speaking at the launch, Srini Rajam said the company was focused on digital signal processor (DSP) systems in wireline, wireless, audio-speech, and video-imaging markets. Ittiam would be raising a similar amount of capital in the next six to eight months from venture capital firms.
“We see a tremendous potential in this space. There is a ‘waiting to be tapped’ global market of $9 billion in DSP software and systems, growing at a rate of 50 per cent” Rajam said. “We will leverage this market potential to its maximum and establish Ittiam Systems (P) Ltd. as a world class DSP Software and systems company from India” he added.
Ittiam will offer both customised products and off-the-shelf products and will concentrate on building embedded application and reference boards for its clients.