Bridgewater Systems Announces Appointment of Gregory Monahan to Board of Directors



    - Company reaches agreement with Crescendo Partners -

    OTTAWA, April 30 /CNW/ - Bridgewater Systems Corporation (TSX: BWC)
("Bridgewater" or the "Company"), the mobile personalization company, today
announced the appointment of one new director as well as other proposed
changes to its Board of Directors as part of an agreement reached with
Crescendo Partners II, L.P., Series M1 and Crescendo Partners III, L.P.
(together, "Crescendo"). This agreement follows Crescendo's previously
announced requisition of a shareholders' meeting to replace certain members of
Bridgewater's current Board of Directors with nominees to be proposed by
Crescendo. As part of this agreement, Crescendo will withdraw its requisition
for a shareholders' meeting and vote its shares in support of the Board's
nominees at the annual and special meeting on May 26, 2009.
    Effectively immediately, Gregory Monahan, Managing Director of Crescendo,
has joined Bridgewater's Board of Directors and will join each of
Bridgewater's standing and ad hoc committees. In addition, Bridgewater and
Crescendo will jointly support a group of 10 nominees for election to the
Board at the Company's upcoming shareholders' meeting. The nominees are: Terry
Matthews (Chairman), Ed Ogonek, Russell Freen, Paul Damp, Jon Shantz, Michael
Cristinziano, Ken Wigglesworth, Gregory Monahan, David Sgro and Divesh
Sisodraker. These changes will increase the Board of Directors to 10 members
following the annual and special meeting on May 26, 2009.
    "We believe this represents an appropriate resolution as it avoids the
significant distraction to the Company associated with a proxy contest while
adding further depth to our Board," said Mr. Matthews, Chairman of
Bridgewater. "Bridgewater has performed strongly in recent years, and we look
forward to working with the new directors and benefiting from their experience
as we continue to build shareholder value."
    Commenting on behalf of the new directors, Eric Rosenfeld, President and
CEO of Crescendo, stated, "We are very pleased to have reached an amicable
resolution, which we believe is in the best interest of all shareholders. We
look forward to working diligently and constructively with the other board
members to increase shareholder value."
    Full information on the proposed nominees will be contained in
Bridgewater's management information circular that will be mailed to
shareholders on or about May 5, 2009. The full text of the settlement
agreement between Bridgewater and Crescendo is available at www.sedar.com.

    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 120 leading service providers including
America Movil, Bell Canada, Clearwire, 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,
Subscriber Data Broker and Smart Caps 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.

    Certain statements in this release, including the guidance provided
above, constitute forward-looking statements or forward-looking information
within the meaning of applicable securities laws and are made pursuant to the
"safe harbour" provisions of such laws. These statements are subject to
certain assumptions, risks and uncertainties. Readers are cautioned not to
place undue reliance on such statements. Risk factors that may cause the
actual results, performance, achievements or developments of the Company to
differ materially from the results, performance, achievements or developments
expressed or implied by such forward-looking statements can be found in the
public documents filed by the Company with Canadian securities regulatory
authorities. In particular, actual results could differ materially from those
expressed in any forward-looking statements. For a list of risk factors,
please refer to Bridgewater's Annual Information Form dated March 31, 2009.
The Company assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.





For further information:

For further information: Investor Relations, Kim Butler, Chief Financial
Officer, Bridgewater Systems, kim.butler@bridgewatersystems.com, (613)
591-9104 extension 6023; Vanessa Beresford, The Equicom Group Inc.,
vberesford@equicomgroup.com, (416) 815-0700 extension 227; Media Relations,
David Sharpley, Senior Vice President, Marketing and Product Management,
Bridgewater Systems, david.sharpley@bridgewatersystems.com, (613) 591-9104
extension 2121

Organization Profile

BRIDGEWATER SYSTEMS

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890