Verizon Business has entered into a definitive agreement to acquire the cloud-based video conferencing and events platform BlueJeans Network. According to The Wall Street Journal, the company paid less than $500 million for the Zoom competitor to expand Verizon’s “unified immersion communication network.”
The deal allows Verizon customers to access BlueJeans’ real-time engagement solutions while providing BlueJeans with an expanded customer base for video services.
“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,” said Tami Erwin, CEO of Verizon Business, in a statement. “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.”