Policy control company Bridgewater Systems saw its stock jump 12 percent last week after announcing a $56 million follow-on contract with Verizon Wireless (NYSE:VZ) .
The deal looks to be a recognition that data is growing exponentially and that Verizon needs to manage a myriad of applications such as M2M. Moreover, the deal is significant for Bridgewater considering the fact that total sales in 2010 are expected to reach $94 million.
The four-year deal calls for Bridgewater to supply 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.
Bridgewater Chief Executive Ed Ogonek said the deal puts the company in a top position as a supplier of data-management software to Verizon and could lead to new business servicing the operator's LTE network "This reinforces the current deployment we have in their 3G network, but also emphasizes the opportunity to extend that deployment," Ogonek said in an interview with Dow Jones. He noted that the deal includes a framework for additional sales.
For more:
- see this Dow Jones Newswires article
- see this release
- read this GoMo News article
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