Verizon acquires BlueJeans, a Cloud-Video Conferencing Platform

Verizon announced the acquisition of cloud video conferencing platform BlueJeans. The financial terms of the transaction were not disclosed but the deal is said to be $400 Million, reports Bloomberg.

Zoom video conferencing platform has become a household name due to Covid-19 lockdown across the world. The platform is surging in its world-wide usages in coronavirus pandemic.

BlueJeans’ cloud-based video service currently serves a wide variety of business segments from small organizations to some of the world’s largest multinational brands.

Executive Opinion

CEO of Verizon Business, Tami Erwin, said, "As the way we work continues to change, it is absolutely critical for businesses and public sector customers to have access to a comprehensive suite of offerings that are enterprise ready, secure, frictionless and that integrate with existing tools. Collaboration and communications have become top of the agenda for businesses of all sizes and in all sectors in recent months. We are excited to combine the power of BlueJeans’ video platform with Verizon Business’ connectivity networks, platforms and solutions to meet our customers’ needs."

CEO of BlueJeans Network, Quentin Gallivan, "The combination of BlueJeans’ world class enterprise video collaboration platform and trusted brand with Verizon Business’ next generation edge computing innovation will deliver highly differentiated and compelling solutions to our joint customers. We are very excited about joining the Verizon team and we truly believe the future of business communications starts today!"

Verizon's 5G Roadmap and BlueJeans' Integration

The acquisition expands Verizon’s immersive unified communications portfolio.

Verizon’s unified communications as a service business will be expanded with BlueJeans' acquisition. BlueJeans' video conferencing platform will be integrated into Verizon’s 5G product roadmap.

The acquisition will help Verizon to provide secure and real-time engagement solutions for different use-cases like telemedicine, distance learning and field service work.

The acquisition is expected to close in the second quarter and subject to regulatory approvals. Once the acquisition is closed, BlueJeans's employees will transition to Verizon, notes the Announcement.