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Verizon Wireless In Agreement With Bridgewater Systems for Network Products and Services Valued at US$56 Million
OTTAWA, Dec. 16 /PRNewswire-FirstCall/ - Bridgewater Systems (TSX: BWC), the mobile
personalization company, today announced a new four-year framework
agreement with Verizon Wireless under which Bridgewater will provide
products and services for Verizon Wireless' network expansion. The
value of the agreement between the parties is approximately US$ 56
million.
"Verizon operates the nation's largest and most reliable 3G network -
and starting this month the world's first large-scale 4G LTE network.
We are committed to technologies that will ensure our customers an
optimal, secure, and personalized mobile broadband experience," said Ed
Chan, Vice President, National Network Operations at Verizon Wireless.
"Bridgewater has demonstrated the ability to meet our performance and
scalability requirements as we expand our network to deliver advanced
mobile broadband services."
Under the agreement, Bridgewater will provide mobile control solutions
as well as maintenance and support services for all current and future
3G solutions. In addition, the agreement provides the framework for
Bridgewater to deliver new products and services to support Verizon
Wireless' ongoing network expansion across multiple access networks.
"Verizon Wireless is a long-standing customer and we look forward to
supporting them as they grow their networks and continue to deliver
market-leading mobile broadband and machine-to-machine services across
their footprint," said Ed Ogonek, President and CEO of Bridgewater
Systems.
About Bridgewater Systems
Bridgewater Systems, the mobile personalization company, enables service
providers to efficiently manage and profit from mobile data services,
content and commerce. The company's market leading mobile
personalization portfolio provides a real-time, unified view of
subscribers including entitlements, devices, networks, billing
profiles, preferences and context. Anchored by Bridgewater's Subscriber
Data Broker(TM), the portfolio of carrier-grade and standards-based
products includes the Bridgewater(R) Service Controller (AAA), the
Bridgewater(R) Policy Controller (PCRF) and the Bridgewater(R) Home
Subscriber Server (HSS). More than 150 leading service providers
including America Movil, Bell Canada, Clearwire, Cox, Hutchison
Telecom, Iusacell, Scartel, SmarTone-Vodafone, Sprint, Tata
Teleservices, Tatung, Telmex, Telstra, and Verizon Wireless use
Bridgewater's solutions to rapidly deliver innovative mobile services
to over 150 million subscribers. For more information, visit us at http://www.bridgewatersystems.com.
Bridgewater, Bridgewater Systems, the Bridgewater Systems logo,
WideSpan, Smart Caps, myPolicy, and Subscriber Data Broker are
trademarks or registered trademarks of Bridgewater Systems
Corporation. All other company, product names and any registered and
unregistered trademarks mentioned are used for identification purposes
only and remain the exclusive property of their respective owners.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements
or forward-looking information within the meaning of applicable
securities laws. These statements are subject to certain assumptions,
risks and uncertainties. Readers are cautioned not to place undue
reliance on such statements. These statements are provided to enable
external stakeholders to understand Bridgewater's expectations as of
the date of this release and may not be appropriate for other purposes.
Actual results, performance, achievements or developments of Bridgewater
may differ materially from the results, performance, achievements or
developments expressed or implied by such statements. Risk factors that
may cause the actual results, performance, achievements or developments
of Bridgewater to differ materially from the results, performance,
achievements or developments expressed or implied by such statements
can be found in the public documents filed by Bridgewater with Canadian
securities regulatory authorities, including, but not limited to
Bridgewater's Annual Information Form dated March 31, 2010 and
Management's Discussion & Analysis of Financial Condition and Results
of Operation dated November 2, 2010, which are available at http://www.sedar.com, and include the following:
-- Bridgewater operates in highly competitive and continually evolving
markets, and if it is not able to compete effectively, it may not be
able to continue to expand its business as expected;
-- Bridgewater relies on a limited number of customers for a large
percentage of its revenue, and the loss of, or significant shortfall in
business from, a key customer could significantly reduce its revenue;
-- Bridgewater must continue to evolve its business models and platforms
for delivery of products and services to respond to transaction
capacity needs of its customers;
-- Bridgewater's engagements with its customers involve complex
arrangements and the size, timing and contractual terms of orders for
Bridgewater's products may affect when revenue is recognized;
-- Bridgewater has a lengthy and variable sales cycle; and
-- Bridgewater may engage in future acquisitions that could disrupt its
business and affect its financial condition and operating results.
Bridgewater assumes no obligation to update or revise any
forward-looking statements or forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required by law.
SOURCE Bridgewater Systems
Bridgewater Systems
CONTACT: <p>Investor Relations<br/> Kim Butler, Chief Financial Officer<br/> Bridgewater Systems<br/> <a href="mailto:kim.butler@bridgewatersystems.com">kim.butler@bridgewatersystems.com</a><br/> +1 613-591-9104 extension 6023</p> <p>Craig Armitage<br/> The Equicom Group Inc.<br/> <a href="mailto:carmitage@equicomgroup.com">carmitage@equicomgroup.com</a><br/> +1 416-815-0700 extension 278</p> <p>Media Relations<br/> Joanne Steinberg, Marketing Director,<br/> Bridgewater Systems<br/> <a href="mailto:joanne.steinberg@bridgewatersystems.com">joanne.steinberg@bridgewatersystems.com</a><br/> +1 613-884-8831</p>
Verizon Wireless In Agreement With Bridgewater Systems for Network Products and Services Valued at US$56 Million
OTTAWA, Dec. 16 /PRNewswire-FirstCall/ - Bridgewater Systems (TSX: BWC), the mobile
personalization company, today announced a new four-year framework
agreement with Verizon Wireless under which Bridgewater will provide
products and services for Verizon Wireless' network expansion. The
value of the agreement between the parties is approximately US$ 56
million.
"Verizon operates the nation's largest and most reliable 3G network -
and starting this month the world's first large-scale 4G LTE network.
We are committed to technologies that will ensure our customers an
optimal, secure, and personalized mobile broadband experience," said Ed
Chan, Vice President, National Network Operations at Verizon Wireless.
"Bridgewater has demonstrated the ability to meet our performance and
scalability requirements as we expand our network to deliver advanced
mobile broadband services."
Under the agreement, Bridgewater will provide mobile control solutions
as well as maintenance and support services for all current and future
3G solutions. In addition, the agreement provides the framework for
Bridgewater to deliver new products and services to support Verizon
Wireless' ongoing network expansion across multiple access networks.
"Verizon Wireless is a long-standing customer and we look forward to
supporting them as they grow their networks and continue to deliver
market-leading mobile broadband and machine-to-machine services across
their footprint," said Ed Ogonek, President and CEO of Bridgewater
Systems.
About Bridgewater Systems
Bridgewater Systems, the mobile personalization company, enables service
providers to efficiently manage and profit from mobile data services,
content and commerce. The company's market leading mobile
personalization portfolio provides a real-time, unified view of
subscribers including entitlements, devices, networks, billing
profiles, preferences and context. Anchored by Bridgewater's Subscriber
Data Broker(TM), the portfolio of carrier-grade and standards-based
products includes the Bridgewater(R) Service Controller (AAA), the
Bridgewater(R) Policy Controller (PCRF) and the Bridgewater(R) Home
Subscriber Server (HSS). More than 150 leading service providers
including America Movil, Bell Canada, Clearwire, Cox, Hutchison
Telecom, Iusacell, Scartel, SmarTone-Vodafone, Sprint, Tata
Teleservices, Tatung, Telmex, Telstra, and Verizon Wireless use
Bridgewater's solutions to rapidly deliver innovative mobile services
to over 150 million subscribers. For more information, visit us at http://www.bridgewatersystems.com.
Bridgewater, Bridgewater Systems, the Bridgewater Systems logo,
WideSpan, Smart Caps, myPolicy, and Subscriber Data Broker are
trademarks or registered trademarks of Bridgewater Systems
Corporation. All other company, product names and any registered and
unregistered trademarks mentioned are used for identification purposes
only and remain the exclusive property of their respective owners.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements
or forward-looking information within the meaning of applicable
securities laws. These statements are subject to certain assumptions,
risks and uncertainties. Readers are cautioned not to place undue
reliance on such statements. These statements are provided to enable
external stakeholders to understand Bridgewater's expectations as of
the date of this release and may not be appropriate for other purposes.
Actual results, performance, achievements or developments of Bridgewater
may differ materially from the results, performance, achievements or
developments expressed or implied by such statements. Risk factors that
may cause the actual results, performance, achievements or developments
of Bridgewater to differ materially from the results, performance,
achievements or developments expressed or implied by such statements
can be found in the public documents filed by Bridgewater with Canadian
securities regulatory authorities, including, but not limited to
Bridgewater's Annual Information Form dated March 31, 2010 and
Management's Discussion & Analysis of Financial Condition and Results
of Operation dated November 2, 2010, which are available at http://www.sedar.com, and include the following:
-- Bridgewater operates in highly competitive and continually evolving
markets, and if it is not able to compete effectively, it may not be
able to continue to expand its business as expected;
-- Bridgewater relies on a limited number of customers for a large
percentage of its revenue, and the loss of, or significant shortfall in
business from, a key customer could significantly reduce its revenue;
-- Bridgewater must continue to evolve its business models and platforms
for delivery of products and services to respond to transaction
capacity needs of its customers;
-- Bridgewater's engagements with its customers involve complex
arrangements and the size, timing and contractual terms of orders for
Bridgewater's products may affect when revenue is recognized;
-- Bridgewater has a lengthy and variable sales cycle; and
-- Bridgewater may engage in future acquisitions that could disrupt its
business and affect its financial condition and operating results.
Bridgewater assumes no obligation to update or revise any
forward-looking statements or forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required by law.
SOURCE Bridgewater Systems
Bridgewater Systems
CONTACT: <p>Investor Relations<br/> Kim Butler, Chief Financial Officer<br/> Bridgewater Systems<br/> <a href="mailto:kim.butler@bridgewatersystems.com">kim.butler@bridgewatersystems.com</a><br/> +1 613-591-9104 extension 6023</p> <p>Craig Armitage<br/> The Equicom Group Inc.<br/> <a href="mailto:carmitage@equicomgroup.com">carmitage@equicomgroup.com</a><br/> +1 416-815-0700 extension 278</p> <p>Media Relations<br/> Joanne Steinberg, Marketing Director,<br/> Bridgewater Systems<br/> <a href="mailto:joanne.steinberg@bridgewatersystems.com">joanne.steinberg@bridgewatersystems.com</a><br/> +1 613-884-8831</p>