- Verizon Business recently announced it entered a definitive agreement to buy BlueJeans Network. These are the details.
Verizon Business recently announced it entered a definitive agreement to buy BlueJeans Network — which is an enterprise-grade video conferencing and event platform. This acquisition will be expanding Verizon’s immersive unified communications portfolio. And BlueJeans’ cloud-based video service currently serves a wide variety of business segments from small organizations to some of the world’s largest brands. BlueJeans has played a significant role in continuing those companies’ operations during the ongoing work-from-home regulations.
This transaction will combine BlueJeans’ simple and trusted meeting platform with Verizon’s unified communications as a service business immediately. Verizon customers will benefit from BlueJeans enterprise-grade video experience on Verizon’s high-performance global networks. Plus the platform will be deeply integrated into Verizon’s 5G product roadmap thus providing secure and real-time engagement solutions for high growth areas such as telemedicine, distance learning, and field service work.
BlueJeans is regularly cited as one of the market-leading video conference and collaboration tools, including cloud-based meetings and large interactive events that are scalable and secure. And BlueJeans founders and key management team will join Verizon to lead the continued growth and innovation of the business. BlueJeans’ employees will become Verizon employees immediately upon the close of the deal.
This 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.
Key Quotes:
“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.”
-Tami Erwin, CEO of Verizon Business
“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!”
-Quentin Gallivan, CEO of BlueJeans Network
