Verizon will acquire BlueJeans for less than $500M

Verizon has entered into an agreement to acquire BlueJeans Network, an enterprise-grade video conferencing and event platform, for less than $500 million.

“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.”

Tami Erwin, CEO of Verizon Business

This deal exemplifies Verizon’s attempts to capitalize on increasing demand for video and connectivity platforms due to the COVID-19 epidemic.