Bangalore, May 07 2013: Lip-Bu Tan, Chairman of leading venture capital firm Walden International, has joined the board of Ittiam Systems, suggesting that this flows from an investment in the Indian embedded media-centric systems leader.
Walden was the first Silicon Valley based venture firm to establish a presence in India. The 12–year old Ittiam is the largest pure-play IP company from this country with leadership in video technologies and multimedia systems and 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.
Said Lip-Bu Tan: "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 Information Technology industry in India".
Adds Srini Rajam, Chairman and CEO of Ittiam Systems:"Our vision is to deliver compelling solutions to customers who spearhead the growth of media creation, management and consumption", said. "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."