Ittiam rated as world's most preferred DSP IP provider

Ittiam Systems has announced that it has been rated for the second year in succession as the world's most preferred provider of Digital Signal Processing (DSP) based IP in the DSP Professionals Survey 2005, conducted by Forward Concepts of US.

Ittiam is a technology product company focusing on DSP systems in media and communications. Its revenue is built on a licensing and royalty model wherein Ittiam licenses its intellectual property to a vendor like Sony to build a product like a digital video player and also gets royalty on the number of those units Sony sells in the end consumer market.

Forward Concepts is a market research company specialising in DSP and related segments and its reports are well regarded for their understanding and analysis of markets for DSP in the semiconductor and high-end equipment industries.

Said Will Strauss, president, Forward Concepts: "Winning a worldwide recognition is anytime difficult, especially in the highly competitive technology market. Winning it second time in a row truly reflects the underlying strength and continuity of excellence of the company." According to Forward Concepts, Ittiam tops in both hardware and software categories.

Added Srini Rajam, chairman and CEO, Ittiam: "This recognition reflects the great confidence of our customers in the performance of our DSP IP and quality of our support. Our highly customer focused teams are making this possible."

Commenting on how Ittiam performed during the last calendar year, Srini Rajam said it broadened its technology penetration through increasing the number of end products in the market bearing its intellectual property and through trade shows the world over where leading edge products based on its IP are showcased by partners and customers.

The company actively engages global firms in providing solutions for Wireless LAN and also enables multimedia streaming across a host of handhelds.

Ittiam has projected a strong growth path for the next couple of years that will position the company for an initial public offering in 2007-08 with revenues of around $25 million. The company employs around 170 professionals and has so far raised around $11 million through two rounds of funding.