BEL signs USD 73 Million contract with Hyperion Global Group LLC, USA, for supply of IoT devices to the US
Navratna Defence PSU Bharat Electronics Limited (BEL) and Hyperion Global Group, LLC, an infrastructure telecommunication distribution company based in the USA, have entered into a contract to develop, manufacture and supply Internet of Things (IoT) devices for the US market.
As per the contract signed on January 21, 2022, BEL will manufacture and supply IoT devices worth US 73 million USD to Hyperion during the first year of commencement of supply with a provision to negotiate and supply upgrades of the products, worth US $365 Million, in the next five years.
Hyperion’s next generation global telecommunications infrastructure devices are all set to revolutionise 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 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.
The contract was signed on January 21, 2022 by BEL’s New York Regional Office and Hyperion in the presence of Director R&D, BEL, M V Rajasekhar CEO, Hyperion Group, Nick Studebaker, GM (BEL-Panchkula), Prabha Goyal and other senior officials of BEL and Hyperion.
Director R&D, BEL, M. V Rajasekhar 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.”
Chairman & Managing Director, BEL, Anandi Ramalingam said, “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.”
CEO, Hyperion Group, Nick Studebaker 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.”