Verizon Acquires Videoconferencing Platform BlueJeans for $400 Million

Verizon and Bluejeans
BARCELONA, SPAIN - FEBRUARY 27: A logo sits illuminated outside the Verizon pavilion during the Mobile World Congress 2017 on the opening day of the event at the Fira Gran Via Complex on February 27, 2017 in Barcelona, Spain. The annual Mobile World Congress hosts some of the world's largest communications companies, with many unveiling their latest phones and wearables gadgets. (Photo by David Ramos/Getty Images)

Today, the US operator Verizon announced that it will acquire the video conference platform BlueJeans. During the outbreak of the new coronavirus, employees increasingly rely on network tools for communication. So big companies are trying to find the best tools and solutions for remote work and communication. Verizon is no exception. And its move of acquiring such a platform is quite logical.

Affected by the epidemic, many corporate tools, such as Zoom, Slack and Microsoft Teams have seen a significant increase in usage. The acquisition shows that Verizon also hopes to be part of this movement.

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The source said that Verizon will acquire BlueJeans for about $400 million. According to Verizon CEO Hans Vestberg, BlueJeans has more than 15,000 customers, including Facebook, LinkedIn, and Red Hat.

At the same time, Verizon believes that adding video conferencing tools to its 5G network can help the company better compete with other operators, including the new company after the merger of T-Mobile and Sprint.

‘Customers will benefit from a BlueJeans enterprise-grade video experience on Verizon’s high-performance global networks. In addition, the platform will be deeply integrated into Verizon’s 5G product roadmap, providing secure and real-time engagement solutions for high growth areas such as telemedicine, distance learning and field service work.’

The leading US carrier said that BlueJeans co-founder and management team will join Verizon to continue to promote the growth of the platform. Also, its employees will become part of Verizon. Verizon expects that it will this transaction in the second quarter of this year.

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