Two Bangalore firms in 'Red Herring' list Cos list

Red Herring, the technology magazine for entrepreneurs, investors and industry, has recognised two Bangalore companies from a group of 100 firms that it predicts will drive the technology industry's future.

The magazine has selected Tejas Networks and Ittiam Systems for its 'Red Herring 100 Private Companies of Asia'.

Tejas and Ittiam were evaluated by the magazine's editorial staff along with over 500 private companies through an analysis of financial data and subjective criteria, including quality of management, execution of strategy and dedication to research and development.

Red Herring's lists of private companies are an important part of the magazine's tradition of identifying new and innovative technology companies and entrepreneurs.

Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work.

Tejas is building next-generation optical networking products for the global market. Tejas pioneered the cost effective, software-differentiated, next generation products that enable telecom carriers to converge traditional voice-based networks with the new data-dominated networks.

"This award re-affirms our execution strategy of achieving significant success in a highly competitive Indian telecom market and then taking our packet-aware optical transport products to international markets," said Sanjay Nayak, CEO & Managing Director, Tejas Networks India Limited.

Ittiam Systems is a product company singularly focussed on digital signal processing systems in media and communication. "Ittiam's innovative business model and cutting edge products are transforming the way our customers develop and market products," said Srini Rajam, chairman and chief executive officer, Ittiam Systems.

"Ittiam's selection to Red Herring Asia 100 list is a reflection of the impact we have had as a technology company from Asia and the huge potential Ittiam has looking to the future," he added.