BEL inks a US$ 73 million contract with US-based Hyperion Global Group LLC
In this collaboration, BEL will bring in its world-class engineering and manufacturing expertise to cater to Hyperion's need to provide advanced connectivity solutions.
Bharat Electronics Ltd, a Navratna Defence PSU, announced today that it has signed a contract with Hyperion Global Group LLC, a US-based infrastructure telecommunication distribution company for supply of IoT devices for the US market.
As per the terms of the contract, the Navratna Defence PSU shall develop, manufacture and supply IoT devices worth USD 73 million to the latter. The contract also comprises a provision for negotiation and supply of upgrades of the products, that are worth USD 365 million, over the next five years.
Hyperion's revolutionary next-gen global telecommunications infrastructure devices are vital for tapping into unprecedented levels of performance and speed that can be achieved by combining IoT with 5G. The company plans to accomplish this by the strategic implementation of a six-phase strategy to cater to its customer demands. For this, it has a robust product roadmap and global expansion strategy in place.
Hyperion’s goal is to provide technology solutions for tomorrow's connected world. In this collaboration, BEL will bring in its world-class engineering and manufacturing expertise to cater to Hyperion's need to provide advanced connectivity solutions.
Commenting on this development, Anandi Ramalingam, CMD, BEL, stated “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 USA will be closely interacting with Hyperion for the timely execution of the contract.”
At 12.08 pm, the share price of Bharat Electronics Ltd was trading at Rs 203.9, which was a decrease of 0.17% from Tuesday’s closing price of Rs 204.25 on BSE.
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