BEL signs $73Mn deal with Hyperion for supplying IoT Devices to the US

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 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, along with providing negotiations and supply upgrades of the products, worth $365 million, in the next five years.

The contract pairs Hyperion's need to provide advanced connectivity solutions with BEL's world-class engineering and manufacturing capabilities.

“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.

Hyperion Global Group is an infrastructure telecommunication distribution company based in the USA. BEL is uniquely qualified to deliver a durable product to Hyperion, which has a robust product roadmap and global expansion strategy in place.

BEL is a state-owned aerospace and defense company with about nine factories, and several regional offices in India. It primarily manufactures advanced electronic products for the Indian Armed Forces.

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.”