BEL and Hyperion have entered into a contract to develop, manufacture, and supply IoT devices for the United States market.
Navratna Defence PSU Bharat Electronics Ltd (BEL) and Hyperion Global Group LLC have entered into a contract to develop, manufacture, and supply Internet of Things (IoT) devices for the United States market.
As per the contract, 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.
Hyperion’s next generation global telecommunications infrastructure devices are all set to revolutionize the way people live, learn, communicate, and consume data. This global infrastructure is the key to unlocking unprecedented levels of performance and speed made possible by the combination of IoT and 5G. Hyperion will accomplish this by strategically implementing a six-phase strategy to meet its customer demands.
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 defense electronics company, is uniquely qualified to deliver a durable product to Hyperion, which has a robust product roadmap and global expansion strategy in place.
“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,” said M.V. Rajasekhar, Director R&D, BEL.
“BEL is looking forward to expanding its global footprint and the contract with Hyperion is another major step in that direction. Our Central Research Laboratory will be actively working on this project and our New York Regional Office, which is handling our marketing activities in the US, will be closely interacting with Hyperion for the timely execution of the contract,” commented Anandi Ramalingam, Chairman & Managing Director of BEL.
Nick Studebaker, CEO, Hyperion Group, said, “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 organizations at the local, regional, and national levels communicate. We are looking forward to participating in this exciting opportunity with BEL and its talented and accomplished team.”