Verizon builds on unified comms portfolio with BlueJeans acquisition
Verizon Business has announced its intent to acquire BlueJeans Network, an enterprise level video conferencing and event platform.
The acquisition will feed into Verizon's immersive unified communications portfolio. Primarily BlueJeans' meeting platform will be integrated with Verizon's unified communications as a service business. This will happen immediately, according to a statement.
As a result, customers will be able to access BlueJeans' cloud-based video service which is currently used by business segments from organisations around the world.
In fact, multinational brands, enterprises and businesses have utilised the technology in order to continue operations during the ongoing work from home surge, driven by the COVID-19 pandemic.
In the long term, the platform will be integrated into Verizon's 5G product roadmap in order to provide secure and real time engagement solutions. This will be targeted particularly at telemedicine, distance learning and field service work.
BlueJeans founders and key management team will continue to lead within Verizon, and BlueJeans employees will become Verizon employees following the close of the deal.
Verizon Business CEO Tami Erwin says, "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.
BlueJeans Network CEO Quentin Gallivan says, "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.
"We are very excited about joining the Verizon team and we truly believe the future of business communications starts today!
According to a statement, the transaction is subject to customary closing conditions and is expected to close in the second quarter.
Evercore and Goodwin Procter served as advisors to BlueJeans, and Debevoise - Plimpton as advisor to Verizon.
Verizon Communications, headquartered in New York City and with global offices, provides technology, communications, information and entertainment products and services.
More specifically, the company offers solutions around data, voice and video on its own purpose-built networks and platforms. Verizon states its focus is to enable customers with greater mobility, network connectivity, security and control.
