Hans Vestberg, CEO, Verizon Communications speaking at the World Economic Forum at Davos, Switzerland, January 21, 2020.
Adam Galica | CNBC
Verizon is buying the video conferencing platform BlueJeans as workers increasingly rely on web tools to connect during the coronavirus pandemic, the company announced Thursday.
Many enterprise tools like Zoom, Slack and Microsoft Teams have seen an uptick in usage as more American regions have been instructed to stay at home to tamp down the spread of the virus. The acquisition shows Verizon is looking to be a part of that movement as businesses still struggle to reopen offices.
“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,” Verizon Business CEO Tami Erwin said in a statement.
BlueJeans will become “deeply integrated” into Verizon’s 5G services, according to the release.
Verizon said BlueJeans’ founders and management team will join the company to continue the platform’s growth and its employees will also become part of Verizon. Verizon said it expects the deal to close in the second quarter of the year.
This story is developing. Check back for updates.