Ittiam Systems' annual revenue touched $20 million for FY 2012, driven by intellectual property (IP) developed out of India.
The company, which provides solutions for tablets, phones, Wi-Fi systems, video communication and networking systems, said that income from royalties accounted for more than 35 per cent of the revenue. Ittiam's revenue is based on an IP licensing model, which is a departure from traditional Indian technology firms which focus more on outsourcing work.
Ittiam's ‘revenue per employee productivity' has crossed $100,000. For the fiscal year 2011-12, the number of customers who are embedding Ittiam IP in their products has reached 25 million.
In line with its strategy of focusing on value creation through intellectual property, Ittiam also topped the number of patents granted for an Indian IT company with 30 patents granted till date and 30 other patent filings being reviewed.
“The IPs created by our engineers have been well received in the markets through the products launched by our customers.
“We are now in a position to grow further and create a global showcase for an IP company originating from India,” said Mr Srini Rajam, Chairman and CEO, Ittiam Systems.
“Ittiam has distinguished itself by focusing to build technology competencies in IP and product design,” said Prof S. Sadagopan, Director of Indian Institute of Information Technology Bangalore (IIIT-B).
Ittiam is continuing to make investments in its established business segments and new areas such as automotive infotainment, sensing growth potential in that segment. The global market for automotive infotainment systems is set to expand by three per cent in 2012, driven by rising car production and increasing electronic content in vehicles.
By 2016, the market will reach $41.2 billion, according to an IHS iSuppli Automotive Infotainment Semiconductor Market Tracker report.