The Free On-line Dictionary of Computing (30 December 2018):

Integrated Information Technology
IIT

    (IIT) A Santa Clara based company producing a
   programmable, single chip H.261 and MPEG system.  The chip
   contains a RISC processor, originally based on the MIPS
   architecture but now called RISCit, and a "Pixel Processor".

   (1994-11-03)