Verizon Business has announced a definitive agreement to buy up Zoom competitor BlueJeans, as the videoconferencing market heats up.
Amid the coronavirus pandemic, videoconferencing has become one of the most critical components that has allowed businesses, schools, religious organizations and more to keep functioning. Zoom’s stock has reflected its newfound status as a nearly indispensable tool.
In spite of that success, Zoom has also come under heavy criticism for privacy and security missteps, prompting many organizations and government agencies around the world to ban the app. The company has responded by putting a moratorium on new features for 90 days, while their entire engineering staff focuses on improving security and privacy.
In such an environment, rivals are moving to take advantage of the company’s missteps. Microsoft has made improvements to both Skype and Teams in an effort to make headway, and now Verizon is acquiring BlueJeans in an effort to move squarely into the space. Verizon specifically touts their intention to deeply integrate BlueJeans videoconferencing with the company’s 5G network, making things like telemedicine and distance learning more mainstream.
“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,” said Tami Erwin, CEO of Verizon Business. “Collaboration and communications have become top of the agenda for businesses of all sizes and in all sectors in recent months. We are excited to combine the power of BlueJeans’ video platform with Verizon Business’ connectivity networks, platforms and solutions to meet our customers’ needs.”
“The combination of BlueJeans’ world class enterprise video collaboration platform and trusted brand with Verizon Business’ next generation edge computing innovation will deliver highly differentiated and compelling solutions to our joint customers,” said Quentin Gallivan, CEO of BlueJeans Network. “We are very excited about joining the Verizon team and we truly believe the future of business communications starts today!”
Combining BlueJeans’ platform with Verizon’s network is likely to be a win for customers of both companies, while the added competition should be good for everyone.