Verizon Wireless In Agreement With Bridgewater Systems for Network Products and Services Valued at US$56 Million
OTTAWA, Ontario, Canada, Dec. 16/CNW-AsiaNet/ --
Bridgewater Systems (TSX: BWC), the mobile personalization company, today announced a new four-year framework agreement
with Verizon Wireless under which Bridgewater will provide products and services for Verizon Wireless' network
expansion. The value of the agreement between the parties is approximately US$ 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
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 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.
ENDS