Verizon Wireless in Agreement With Bridgewater Systems for Network Products and Services Valued at US$56 MillionBy Bridgewater Systems, PRNE
Wednesday, December 15, 2010
OTTAWA, Canada, December 16, 2010 - Bridgewater Systems (TSX: BWC), the mobile personalization company, today
announced a new four-year framework agreement with Verizon Wireless under
which Bridgewater will provide products and services for Verizon Wireless'
network expansion. The value of the agreement between the parties is
approximately US$ 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 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
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 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.
For further information: Investor Relations Kim Butler, Chief Financial Officer Bridgewater Systems email@example.com +1-613-591-9104 extension 6023 Craig Armitage The Equicom Group Inc. firstname.lastname@example.org +1-416-815-0700 extension 278 Media Relations Joanne Steinberg, Marketing Director, Bridgewater Systems email@example.com +1-613-884-8831
For further information: Investor Relations, Kim Butler, Chief Financial Officer, Bridgewater Systems, kim.butler at bridgewatersystems.com, +1-613-591-9104 extension 6023; Craig Armitage, The Equicom Group Inc., carmitage at equicomgroup.com, +1-416-815-0700 extension 278; Media Relations, Joanne Steinberg, Marketing Director, Bridgewater Systems, joanne.steinberg at bridgewatersystems.com, +1-613-884-8831
Tags: Bridgewater Systems, canada, December 16, Ottawa