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Bridgewater Systems Announces Court Approval of Plan of Arrangement with Amdocs Limited

^{Published on 2011-08-12 10:21:00 - Market Wire}
 

OTTAWA, Aug. 12, 2011 /CNW/ - Further to its news release of August 5, 2011, Bridgewater Systems (TSX:BWC) ("Bridgewater" or the "Company") is pleased to announce that the Ontario Superior Court of Justice has issued a final order pursuant to the Canada Business Corporations Act ("CBCA") approving the plan of arrangement (the "Arrangement") pursuant to which Amdocs Canada Acquisition Corporation, a wholly owned indirect subsidiary of Amdocs Limited (NYSE:DOX), will acquire all of the outstanding common shares of Bridgewater. In issuing the final order, the Ontario Superior Court of Justice determined that the Arrangement is fair and reasonable in accordance with the requirements of s. 192 of the CBCA. Receipt of the final order follows the Special Meeting of the Shareholders of Bridgewater held on August 5, 2011 (the "Meeting") at which the special resolution authorizing the Arrangement was approved by 98.9% of the votes cast by Bridgewater shareholders present in person or represented by proxy at the Meeting.

Under the Arrangement, Bridgewater shareholders will receive Cdn$8.20 in cash for each outstanding Bridgewater common share. Subject to the satisfaction or waiver of certain outstanding closing conditions, the Arrangement is expected to become effective on or about August 17, 2011.

About Bridgewater Systems

Bridgewater Systems, the leader in intelligent broadband controls, provides pre-integrated solutions for mobile and converged operators to transform their networks, optimize mobile data growth, and innovate with new services. The Bridgewater portfolio of carrier-grade products includes Service Controller (AAA), Policy Controller (PCRF) and Home Subscriber Server (HSS), anchored by a common identity and device management system.  More than 150 leading service providers worldwide leverage Bridgewater to create and deliver profitable services to consumer, enterprise, cloud and machine markets. For more information, visit us at [ www.bridgewatersystems.com ].

Bridgewater, Bridgewater Systems, the Bridgewater Systems logo, WideSpan, Smart Caps, 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.

About Amdocs

Amdocs is the market leader in customer experience systems innovation. The company combines business and operational support systems, service delivery platforms, proven services and deep industry expertise to enable service providers and their customers to do more in the connected world. Amdocs' offerings help service providers explore new business models, differentiate through personalized customer experiences and streamline operations. A global company with revenue of approximately $3.0 billion in fiscal 2010, Amdocs has over 19,000 employees and serves customers in more than 60 countries worldwide. For more information, visit Amdocs at [ www.amdocs.com ].

Forward-Looking Statements

This media release includes certain forward-looking statements within the meaning of applicable securities laws relating to the proposal to acquire Bridgewater. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. The completion of the proposed transaction is subject to a number of terms and conditions, including, without limitation: (i) the satisfaction or waiver of conditions in the Arrangement Agreement, and (ii) certain termination rights available to the parties under the Arrangement Agreement. These conditions to the transaction may not be satisfied in accordance with their terms, and/or the parties to the Arrangement Agreement may exercise their termination rights, in which case the proposed transaction could be modified, restructured or terminated, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with a transaction, that the ultimate terms of the transaction will differ from those that are currently contemplated, and that the transaction will not be successfully completed for any reason (including the failure to obtain any required approvals). Bridgewater does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.