Bharat Electronics signs s $73M contract with Hyperion Global Group

27 Jan 2022 , 10:28 AM

State-owned Bharat Electronics Limited (BEL) and Hyperion Global Group, LLC, an infrastructure telecommunication distribution company based in the USA, have announced that the companies 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 the US $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, the USA which has a robust product roadmap and global expansion strategy in place.

Hyperion Global Group, formed in September 2020, is a Delaware limited liability company that operates as an infrastructure telecommunication distribution company to provide technology solutions for tomorrow’s connected world. Hyperion’s network will provide both broad outdoor coverage and indoor penetration, making it an ideal connectivity choice for Smart Cities, manufacturing, distribution, asset tracking, and multi-location complex enterprise solutions.

Bharat Electronics Ltd is currently trading at Rs200.95 down by Rs3.3 or 1.62% from its previous closing of Rs204.25 on the BSE.