Public sector unit Bharat Electronics Limited (BEL) and US-based Hyperion Global Group, LLC, an infrastructure telecommunication distribution company, have entered into a USD 73-million contract to develop, make and supply internet of things (IoT) devices for the US market.
Under the contract, Bengaluru-headquartered BEL would manufacture and supply the devices to Hyperion during the first year of commencement of supply with a provision to supply upgrades of the products worth USD 365 million in the next five years.
Hyperion’s devices are set to revolutionise the way people live, learn, communicate, and consume data, a statement from BEL said on Thursday.
”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 statement said.
The contract pairs Hyperion’s need to provide advanced connectivity solutions with BEL’s engineering and manufacturing capabilities.