Verizon Business just announced that it has entered into an agreement to acquire BlueJeans. Which is an enterprise-grade video conferencing platform – that many educational institutions and businesses use.
So why did Verizon decide to acquire BlueJeans? Well basically because everyone is working from home now. And BlueJeans is one of the main video conferencing platforms that everyone is using these days to get work done.
BlueJeans will be combined with Verizon's Unified Communications business immediately
Verizon isn't wasting any time here. It is going to be combining BlueJeans meeting platform with its unified communications as a service business immediately.
What this means for BlueJeans customers, is that the video experience will now be on Verizon's high-performance global networks. And it'll be deeply integrated into Verizon's 5G product roadmap. This is going to provide secure and real-time engagement solutions for high growth areas. Like Telemedicine, distance learning as well as field service work.
Tami Erwin, the CEO of Verizon Business stated that "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."
BlueJeans is one of the better options out their for video conferencing
Where everyone is talking about Zoom, during these times, BlueJeans is actually a much better alternative. It is much more efficient and more secure than Zoom. Which just had a number of its accounts hacked and sold on the dark web.
BlueJeans is used by many educational institutions, even before everyone was forced to work from home and do distance learning.
So what does Verizon see in BlueJeans? Well of course it's money. But also a way to expand its Business portfolio, by including BlueJeans. Which is a trusted video conferencing service. Combine BlueJeans with Verizon's 5G network, and you're going to be able to video conference with anyone, anywhere. This is actually going to be very useful for those that work at Verizon, in the field. Setting up Verizon's towers, as they can video conference with coworkers, supervisors, etc, while they are out in the field.
It might look like Verizon Business is looking to capitalize on the fact that everyone is working from home for the foreseeable future and the BlueJeans usage is on the rise, but it's much more than that.
Verizon spent less than $500 million to acquire BlueJeans.