Defence PSU Bharat Electronics Limited (BEL) and Hyperion Global Group, an infrastructure telecommunication distribution company, have entered into a contract to develop, manufacture and supply Internet of Things (IoT) devices for the US market.
As per the contract, BEL will manufacture and supply IoT devices worth US $73 million to Hyperion, based in the US, 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, said a statement issued by BEL.
The contract was signed on January 21, by BEL’s New York Regional Office and Hyperion in the presence of M V Rajasekhar, Director R&D, BEL, Nick Studebaker, CEO,