Verizon Business is to acquire BlueJeans Network, an enterprise-grade video conferencing and event platform provider.
The amount of the deal was not disclosed.
The acquisition – subject to customary closing conditions and expected to close in the second quarter – aims to expand Verizon’s unified communications portfolio.
BlueJeans’ cloud-based video service currently serves a wide variety of business segments from small organizations to some of the world’s largest multinational brands.
The deal will combine BlueJeans’ meeting platform with Verizon’s unified communications as a service business with customers benefiting from a BlueJeans enterprise-grade video experience on Verizon’s high-performance global networks. In addition, the platform will be integrated into Verizon’s 5G product roadmap, providing secure and real-time engagement solutions for high growth areas such as telemedicine, distance learning and field service work. BlueJeans founders and key management team – led by Quentin Gallivan, CEO – will join Verizon to lead the continued growth and innovation of the business. BlueJeans employees will become Verizon employees immediately following the close of the deal.