Verizon Business has entered into a definitive agreement to acquire BlueJeans Network, a leading enterprise-grade video conferencing and event platform.
The acquisition expands Verizon’s unified communications portfolio. 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, and has played a significant part in continuing those companies’ operations during the ongoing work-from-home surge.
The transaction will combine BlueJeans’ simple, smart and trusted meeting platform with Verizon’s UCaaS business immediately. 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.
BlueJeans is regularly cited as one of the market-leading video conference and collaboration tools, including cloud-based meetings and large, interactive events that are simple, scalable and secure. BlueJeans founders and key management team will join Verizon to lead the continued growth and innovation of the business. BlueJeans employees will become Verizon employees immediately following the close of the deal.
The transaction is subject to customary closing conditions and is expected to close in 2Q20.
