BEL will manufacture and supply IoT devices worth US $73 million to Hyperion during the first year of commencement of supply
State-owned Bharat Electronics (BEL) has signed a contract with US-based infrastructure telecommunication distribution company Hyperion Global Group to develop, manufacture and supply Internet of Things (IoT) devices for the US market.
As per the agreement, 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.
As per a statement, 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.
Late last year, BEL signed an agreement with Saudi Arabia’s Power for Defense Technologies Co (PDTC) to promote defence and aerospace technologies in both countries.
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. The Government of India held 51.14% stake in BEL as on 30 September 2021.
