Verizon Communications Inc. has agreed to buy videoconferencing company Blue Jeans Network Inc., as an unprecedented number of people work remotely because of the coronavirus pandemic.
The carrier will pay less than $500 million for the Zoom Video Communications Inc. rival,
Verizon Communications Inc. has agreed to buy videoconferencing company Blue Jeans Network Inc., as an unprecedented number of people work remotely because of the coronavirus pandemic.
The carrier will pay less than $500 million for the Zoom Video Communications Inc. rival, a person familiar with the terms said. The deal, announced Thursday and previously reported by The Wall Street Journal, is part of an effort to bolster Verizon’s business group as the carrier rolls out faster 5G networks and pitches new applications of wireless technology to its largest corporate customers.
The conferencing service gives the carrier the ability to help its corporate customers build telemedicine, remote learning and virtual training services, said Tami Erwin, head of Verizon’s business unit. The platform’s security and integration with workplace collaboration tools like Microsoft MSeams was part of its appeal, she added.
The deal comes as a record number of workers and students log on remotely using videoconferencing tools including Zoom, Cisco Systems Inc.’s WebEx and Microsoft Corp.’s Skype.
The acquisition of BlueJeans Network will give Verizon a secure, cloud video platform to better compete against the competition and attract new customers working from home and in the telehealth space, the carrier said.
