Matthews ready to fight for Bridgewater

OTTAWA – Mobile data services company Bridgewater Systems bows to pressure from Crescendo Partners, agreeing to hold a special shareholder’s meeting to address the New York-based investor’s demand that Bridgewater Bridgewater-logo118X38.JPGreplace the majority of its board and put the company up for sale. The meeting will be held in conjunction with Bridgewater’s annual shareholders meeting on May 26. Terry Matthews is prepared to fight the takeover bid. “This is a strong company,” says the Bridgewater chairman. “I’m ready to fight and I reject the overtures of this particular group.” Bridgewater recently reported record revenues of $44.2 million in 2008, and projects earnings of $6 million to $9 million in fiscal 2009.

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