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January 27 Bharat Electronics Limited (BEL) and Hyperion Global Group, LLC, a United States based infrastructure telecommunication distribution company, have entered into a contract to develop, manufacture and supply Internet of Things (IoT) devices for the US market.
BEL will manufacture and supply IoT devices worth $73 million to Hyperion during the first year of commencement of supply with a provision to negotiate and supply upgrades of the products, worth $365 million, in the next five years.
Unprecedented performance
Hyperion’s next generation global telecommunications infrastructure is said to be the key to unlocking unprecedented levels of performance and speed made possible by the combination of IoT and 5G. Hyperion would accomplish this by strategically implementing a six-phase strategy to meet its customer demands.
Advanced connectivity solutions
The contract pairs Hyperion’s need to provide advanced connectivity solutions with BEL’s world-class engineering and manufacturing capabilities. BEL, as India’s leading defence electronics company, is uniquely qualified to deliver a durable product to Hyperion, USA, which has a robust product roadmap and global expansion strategy in place, said the company.
MV Rajasekhar, Director Research and Development (R&D), BEL, said, “BEL is happy to be associated with Hyperion Group in being a part of the communication revolution that has taken the world by storm. We are hoping to supply lakhs of IoT devices to Hyperion in the next five years.”
“We are excited to have BEL as our strategic manufacturing partner. We believe that the IoT space will be truly transformative in the way individuals, small to large businesses, municipalities and governmental organisations at the local, regional and national levels communicate,” said Nick Studebaker, CEO, Hyperion Group.
The contract was signed last Friday, January 21, 2022, by BEL’s New York Regional Office and Hyperion in the presence of MV Rajasekhar, Director R&D, BEL, Nick Studebaker, CEO, Hyperion Group, Prabha Goyal, GM (BEL-Panchkula) and other senior officials of BEL and Hyperion.
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