Bharat Electronics Ltd, the government of India managed defence electronics manufacturer, said it has entered into a $73 million co-development and manufacturing deal with a US network consultant to manufacture and supply internet-of-things or IoT devices.
The companies did not disclose the exact nature of the devices, but said the contract opens the door to follow-on deals worth $365 million over the next five years in the form of upgrades to the product.
BEL said it hopes to supply “lakhs” of IoT devices over the next five years to the US company.
The deal has been entered with Hyperion Global Group, “an independent, specialist consultancy service for communication and related infrastructure” based in Delaware.
The company specializes in ‘telecom solutions’, IoT distribution and infrastructure solutions, according to its website.
IoT refers to adding intelligence and connectivity to hitherto ‘dumb’ objects, such as machines and components, which increase their efficiency and manageability.
Within the IoT space, the company offers Embedded Solutions, Module Solutions, Custom Hardware and Software, Development & Evaluation Tools, ODM, Test and Certification, and RF & Wireless Technical Expertise and Support.
The US company is developing solutions for outdoor and indoor coverage for smart cities, manufacturing, distribution, asset tracking and multi-location complex enterprise solutions.
“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,” said BEL in a statement.
BEL is India’s largest manufacturer of high-end electronics and is primarily seen as a supplier of defence electronics solutions.
It makes Military Communications, Radars, Missile Systems, Naval Systems, Electronic Warfare & Avionics, C4I Systems, Electro Optics, Tank Electronics & Gun/Weapon Systems.
“BEL is looking forward to expanding its global footprints and the contract with Hyperion is another major step in that direction. 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,” the Bangalore-based company said.
It also said the contract combines “Hyperion’s need to provide advanced connectivity solutions with BEL’s world-class engineering and manufacturing capabilities”.