Verizon Set to Expand Enterprise Video Business with BlueJeans Acquisition

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By Khin Sandi Lynn | 2Q 2020 | IN-5814

 

Verizon to Buy Video Conferencing Company BlueJeans

NEWS


In mid-April 2020, Verizon announced its plan to buy BlueJeans, a video conferencing and collaboration Software-as-a-Service (SaaS) solution provider focusing on the enterprise market. BlueJeans has more than 15,000 customers in 180 countries, with annual recurring revenue surpassing US$100 million; enterprise customers make up more than two thirds of its revenue. Verizon did not disclose the exact amount of the deal but confirmed that the acquisition price was under US$500 million. Verizon’s acquisition is an attempt to secure the opportunity in the enterprise video segment during the COVID-19 pandemic, which has forced businesses and organizations to facilitate work-from-home practices quickly while maintaining efficiency.

Verizon's Effort to Expand Enterprise Mobile Conferencing

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