Verizon Wireless In Agreement With Bridgewater Systems for Network Products and Services Valued at US$56 Million

Dec 16, 2010, 09:22 ET from Bridgewater Systems

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™, the portfolio of carrier-grade and standards-based products includes the Bridgewater® Service Controller (AAA), the Bridgewater® Policy Controller (PCRF) and the Bridgewater® 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 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.

SOURCE Bridgewater Systems