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Verizon buys video conferencing company BlueJeans

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Verizon Business has entered into a definitive agreement to acquire BlueJeans Networks, a enterprise-grade video conferencing and event platform.

The undisclosed deal will combine BlueJeans’ meeting platform with Verizon’s unified communications as-a-service business, expanding Verizon’s unified communications portfolio.

“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.

“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.”

In turn, customers will benefit from 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 such as telemedicine, distance learning and field service work all of which have been heightened due to the Covd-19 outbreak.

 “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,” said Quentin Gallivan, CEO of BlueJeans Network.

“We are very excited about joining the Verizon team and we truly believe the future of business communications starts today!”

The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2020. Evercore and Goodwin Procter served as advisors to BlueJeans, and Debevoise & Plimpton as advisor to Verizon.

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