KEY POINTS
  • 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.
  • The acquisition comes as 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.
  • In an interview with CNBC, Verizon CEO Hans Vestberg said he sees an opportunity to compete with existing video conferencing companies in Verizon's distribution platform and integration with its 5G network.

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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.

Verizon will pay about $400 million in the deal, CNBC's David Faber reported. BlueJeans has more than 15,000 customers, Verizon CEO Hans Vestberg said in an interview with Faber shortly after the deal was announced.

In this article