Veo Selects Ittiam’s Video Technology for Multiple Products

Bangalore, India and San Jose, Calif. Mar 31, 2003 - Ittiam Systems and Veo today jointly announced the licensing of Ittiam's media processing technology by Veo for multiple products including web, digital still, handheld and networking cameras. Veo, which is focused on the development of user-friendly digital imaging devices, has selected multiple intellectual properties (IP) from Ittiam's media processing portfolio. These selections include video compression and decompression technologies based on Motion JPEG (Joint Photographic Experts Group) and MPEG-4 (Moving Picture Experts Group) standards.

"Veo selected Ittiam based on its core competency in image compression technologies and in its ability to extend Veo's reach into a number of untapped applications that can benefit from lower bandwidth video delivery," said Dr. Jeff Stoen, director of product marketing for Veo. "We are excited by the addition of Ittiam technology to a number of our product offerings."

"Veo is an established player in the market for digital communications products covering a wide range from network and digital still cameras to web cameras," said Srini Rajam, chief executive officer for Ittiam Systems. "Selection of Ittiam's video compression technologies for the Veo product line is a significant recognition of our quality, performance and IP capability."

Video technology has been a key focus for Ittiam. Over time the company has built a complete IP portfolio to cater to various video applications ranging from video players, video cameras and recorders, network cameras, and video over broadband such as video conferencing. In addition to the technology-level IP, Ittiam has system level products that leverage the company's strength in media processing and communication.

"Texas Instruments programmable digital media processor allows customers flexibility in choosing their partnerships and the ability to customize robust and compelling systems," said Raj Talluri, imaging business manager for TI. "In this case, TI's DSC/DM platform enables Veo to expand its existing capability and take advantage of the software expertise from Ittiam to accelerate its development process and introduce compelling products at a reduced time to market."

"Ittiam's video products and IP have been licensed by customers across Europe, Asia and North America," said Mr. Ravishankar, vice president of the multimedia business for Ittiam. "Veo is an important addition to the list of partners to expand our market presence."

About Veo
Founded in 1993, Veo is focused on creating and marketing exceptionally user-friendly digital imaging products and services that enable people around the world to instantly communicate. Veo's expansive product family includes web, digital still, networking and PDA cameras.

Veo products are available through major retail, online and distribution channels worldwide. The company headquarters are located in San Jose, California with operational and manufacturing facilities in Taiwan and China. For more information, contact Veo at 2210 O'Toole Avenue, Suite 150, San Jose, CA 95131, or visit Veo's website at www.veo.com.

About Ittiam
Ittiam Systems Private Limited is an Indian company headquartered in Bangalore, developing DSP Software and Systems. Ittiam is singularly focussed on digital signal processing in communications and multimedia. For more details, visit the company website at www.ittiam.com.