Ittiam Systems has announced that its annual revenue crossed the US$20 million mark for the fiscal year ending March 2012. Significantly, royalty income contributed to more than 35% of this revenue, highlighting the excellence achieved by the company with the Intellectual Property (IP) Licensing Business Model.
VG Siddhartha, Head, GTV said, "From the inception, we have been impressed by Ittiam's commitment and capability to build a differentiated technology company in the Indian product company landscape. The royalty impact achieved by Ittiam is unique. The company is well poised to scale greater heights in the years to come."
Srini Rajam, Chairman & Chief Executive Officer, Ittiam Systems said, "This achievement of Ittiam is a direct reflection of the world class talent base in our people and the outstanding quality of our customers who are leaders in their respective markets. The imaginative IPs created by our engineers have been very well received in the markets through the innovative end products launched by our customers. We are now in a great position to grow further and create a global showcase for an IP company originating from India", he added.
