Verizon Acquires BlueJeans Network to Boost 5G and Enterprise Communications
Verizon purchases B2B videoconferencing company BlueJeans Network for under $500 million to enhance its unified communications portfolio. The acquisition allows Verizon to integrate enterprise-grade video directly into its 5G product roadmap.
Verizon acquires veteran B2B videoconferencing platform BlueJeans Network for under $500 million. The US carrier confirms the definitive agreement to purchase the enterprise-grade video and event platform in order to expand its immersive unified communications portfolio. BlueJeans raises approximately $175 million since its founding a decade ago before this acquisition by the telecommunications giant.
The company plans to integrate the BlueJeans video experience deeply into its 5G product roadmap. Verizon intends to leverage this combination to provide secure, real-time engagement solutions for high-growth sectors like telemedicine, distance learning, and field service work. Executives emphasize that businesses currently require comprehensive, secure, and frictionless communication tools that integrate seamlessly with their existing systems.
This acquisition occurs during a massive global surge in videoconferencing usage as remote work expands during the coronavirus pandemic. While competitors like Zoom experience explosive growth and increased public scrutiny over security issues, Verizon positions BlueJeans as an enterprise-ready alternative. The deal combines BlueJeans' video platform with Verizon's global connectivity networks to meet the urgent communication needs of businesses and public sector customers.