Bridgewater Systems Names Derek Smyth CEO Of Internet Access Control Software Firm

Bridgewater Systems, a provider of Internet access control software, today announced that Derek Smyth, formerly chief operating officer of Ironside Technologies Inc., has accepted the companys CEO position. Smyths broad-based experience is well suited to help Bridgewater provide proven wireline and wireless access control solutions to carriers and service providers, while expanding to new enterprise segments. He brings extensive strategic, marketing, sales and management skills to the position.

Bridgewater Systems, a provider of Internet access control software, today announced that Derek Smyth, formerly chief operating officer of Ironside Technologies Inc., has accepted the companys CEO position.

Smyths broad-based experience is well suited to help Bridgewater provide proven wireline and wireless access control solutions to carriers and service providers, while expanding to new enterprise segments. He brings extensive strategic, marketing, sales and management skills to the position.

According to Doug Somers, Bridgewaters co-founder and acting CEO, These are exciting times for Bridgewater. Derek joins us following a successful fiscal year in which our revenues almost doubled from the prior fiscal year. In addition, we added 5 new major customers, including 2 in the wireless market."

Im pleased to arrive at Bridgewater as it builds on its successes with leading carriers such as Bell Mobility and Qwest," said Smyth. The companys highly regarded technology is ideal for access control for both the carrier and expanding enterprise markets. I am keen to help shape the companys enterprise strategy for our entry into this segment."

As Ironside's COO, Smyth helped grow the business from start-up to a category leader and a team of 14 to 240, while raising private equity. Prior to that he was senior vice president, marketing and business development at Ironside, which is a provider of sell-side business-to-business electronic commerce solutions.

I am very pleased that Derek Smyth has joined the company," said Terry Matthews, chairman of the board of directors. We know his enterprise software experience will bring significant value to Bridgewater as we add that market to our successful service provider business."

Prior to joining Ironside, Smyth held a number of executive positions with Bay Networks Canada, including overall management of the company's strategic marketing and sales initiatives across Canada. During his tenure with Bay, Smyth reestablished the company's distribution presence and strengthened its roster of national accounts, leading to significant gains in market position.

Before that, Smyth served as director of North American Distribution and Channels at Radius, Inc. He holds a bachelors degree in commerce and economics from the University of Toronto.

Somers will remain with the company as a senior executive with responsibilities relating to strategic marketing and business development.

About Bridgewater Systems (www.bridgewatersystems.com)
Bridgewater Systems provides access control software to carriers and enterprises that offer Internet-based services to their customers, partners and stakeholders. The company develops highly scalable solutions that enable organizations to differentiate access to wireline and mobile Internet services based on the identity of the user or the application, solving problems such as how to comprehensively account and track for services and prevent unauthorized access. Unlike other Internet access control suppliers, Bridgewater Systems products leverage a centralized point of access control to deliver significant auditing and accounting capabilities and decrease overall cost of ownership. This enables customers to reduce network costs, increase revenues and rapidly deploy new customer-focused services. Founded in 1997, the privately held company's software is licensed by top-tier global service providers, including Bell Mobility, Qwest Communications, Covad & Verio/NTT.