Verizon completes acquisition of BlueJeans for 500 million dollars

Verizon completes acquisition of BlueJeans for 500 million dollars

Verizon announces that it has officially acquired BlueJeans. The acquisition of 500 million dollars (457 million euros) has not taken long as Verizon only announced the acquisition last month.

The acquisition of BlueJeans comes at an excellent time for Verizon. The company wants to tap into the growing videoconferencing market. “Collaboration and communication have been at the top of the agenda for companies 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 the needs of our customers,” said Tami Erwin, CEO of Verizon Business.

Verizon announced last week that BlueJeans’ functionalities will be ‘deeply integrated into the roadmap of Verizon 5G products’. The company might be planning to bundle BlueJeans’ videoconferencing tools with 5G wireless subscriptions for businesses.

BlueJeans currently has roughly 15.000 business customers. All of the company’s employees, including the management team, are joining Verizon.

The importance of video conferencing

In Meetings, BlueJeans’ meeting platform, users can easily participate in meetings from their browser, mobile device or desktop. With Meetings, Verizon can reach many new, and existing, customers who need to invest in new remote working infrastructure. Due to ongoing pandemic, virtually all companies are forced to carry on working from home using tools such as BlueJeans Meetings.

Besides Meetings, BlueJeans also has BlueJeans Rooms, a version of Meetings that runs on conferencing hardware such as conference telephones. Additionally, the company also offers BlueJeans Events, a tool for hosting webcasts for up to 50.000 participants.

Tip: Zoom vs Google Meet vs Microsoft Teams vs Webex Meetings vs BlueJeans