(Reuters) – Verizon Communications Inc (VZ.N) said on Thursday it agreed to buy video-conferencing company BlueJeans Network Inc, a rival of Zoom Video Communications Inc (ZM.O), for less than $500 million at a time that millions work from home due to widely-enforced lockdowns.
FILE PHOTO: A man stands next to the logo of Verizon at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez
Shelter-in-place orders to contain the spread of the new coronavirus have led businesses across the globe to foster a virtual office environment, leading to a surge in demand for video-conferencing apps such as Zoom, Cisco’s (CSCO.O) Webex and Microsoft’s (MSFT.O) Teams.
BlueJeans, whose conferencing app is used in 180 countries, is already a partner here of Verizon and its meeting app is offered to clients under the telecom company’s unified communications and collaboration services.
“Verizon got a good deal, but BlueJeans had been trying to sell itself for…
Source Reuters Tech News
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