Verizon Business to acquire video conferencing platform BlueJeans Network

Verizon acquisition of BlueJeans : US telecommunications company Verizon Business has agreed to acquire BlueJeans Network, an enterprise-grade video conferencing and event platform in a move to grow its immersive unified communications portfolio.

Financial terms of the deal were not disclosed.

Currently, the cloud-based video service of BlueJeans Network caters to a wide variety of business segments, ranging from small organizations to some of the largest multinational brands in the world. Besides, the cloud-based video service is claimed to have played a key role in continuing the companies’ operations during the ongoing surge in work-from-home caused by the COVID-19 outbreak.

Verizon Business said that the deal will combine the simple, smart, and trusted meeting platform of BlueJeans Network with its unified communications as a service business immediately.

Customers are expected to benefit from a BlueJeans Network enterprise-grade video experience on Verizon Business’ high-performance global networks. Apart from that, the platform will be integrated deeply into the 5G product roadmap of Verizon Business, thereby offering secure and real-time engagement solutions for high growth areas like telemedicine, field service work, and distance learning.

Verizon acquisition of BlueJeans. Photo courtesy of Eden, Janine and Jim from New York City/Wikipedia.org.

Commenting on Verizon acquisition of BlueJeans, Tami Erwin – CEO of Verizon Business 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.”

According to Verizon Business, BlueJeans Network is cited often to be among the most popular video conference and collaboration tools, including cloud-based meetings and large, interactive events that are simple, scalable and also secure.

Founders and key management team of BlueJeans Network will join Verizon Business to lead the business’ continued growth and innovation. The company’s employees will transfer to Verizon Business immediately upon closing of the deal.

Quentin Gallivan – CEO of BlueJeans Network commenting on Verizon acquisition of BlueJeans, said: “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.”

Verizon acquisition of BlueJeans, which is subject to customary closing conditions, is likely to be wrapped up in the second quarter.