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COVID-19 Startups

Verizon To Buy BlueJeans To Compete In Video Conferencing Space

Verizon has agreed to buy enterprise video conferencing startup BlueJeans, the company Thursday.

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The acquisition price is reportedly under $500 million, according to .

The deal comes after many more workers have started telecommuting because of the stay-at-home order in response to the COVID-19 pandemic. Zoom Communications has become the video conferencing app of choice for those doing remote work, so now Verizon is in a position to compete for the large number of workers and students who need video conferencing tools. BlueJeans will be integrated into Verizon鈥檚 5G product roadmap, according to the carrier.

鈥淎s 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,鈥 Verizon Business CEO Tami Erwin said in a statement. 鈥淐ollaboration 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鈥 video platform with Verizon Business鈥 connectivity networks, platforms and solutions to meet our customers鈥 needs.鈥

BlueJeans, which is based in Mountain View, California, has around $175 million in funding and recently became profitable, according to WSJ. The company鈥檚 backers include and , according to 小蓝视频色情网页版 data.

BlueJeans鈥 employees will become Verizon employees when the deal closes.

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