BEL to supply IoT devices to the US as part of $73 Mn deal with Hyperion Global Group
By MYBRANDBOOK
Bharat Electronics Limited (BEL) and Hyperion Global Group, LLC, an US infrastructure telecommunication distribution company, 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 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.
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 M V Rajasekhar, Director R&D, BEL; Nick Studebaker, CEO, Hyperion Group; Prabha Goyal, GM (BEL-Panchkula), and other senior officials of BEL and Hyperion.
M V Rajasekhar, Director 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.”
Mrs Anandi Ramalingam, Chairman & Managing Director, BEL, 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.”
Mr 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.”
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