Ittiam Systems today announced that Dolby Laboratories has made a strategic capital investment in the company.
The investment will facilitate co-creation of new technologies and products for the rapidly growing online media workflows around content creation, delivery and consumption.
"This is a momentous occasion in the journey of Ittiam Systems, and the investment is intended to facilitate the delivery of next generation multimedia technologies and solutions. We are a unique company in India's technology landscape focused on IP creation and recognized worldwide for quality, performance and reliability. So far, investors in Ittiam have been from the financial and venture capital community. The time is most appropriate now for Ittiam to have a globally admired brand and world leading IP company in Dolby as a strategic investor to open doors to new markets and guide our product roadmap," commented Srini Rajam, Chairman and CEO of Ittiam Systems.
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( With inputs from ANI )
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