Verizon to buy Zoom video conference rival BlueJeans

The platform will be "deeply integrated" into Verizon's 5G plan, the carrier says.

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 BlueJeans founders will join Verizon. 

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Verizon  signed a deal Thursday to acquire BlueJeans, a business-focused video conferencing service that competes with Zoom and Microsoft Teams . The deal comes as the coronavirus pandemic has led to lockdowns and shelter-in-place orders -- meaning many people are now working from home and in need of video conferencing options.

"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," Tami Erwin, CEO of Verizon Business, said in a release. 

Verizon said the platform will be "deeply integrated" into its 5G road map and will assist in areas such as telemedicine, distance learning and field service work. 

Financial terms of the deal weren't disclosed by the companies. CNBC reported that Verizon will pay about $400 million for BlueJeans, while The Wall Street Journal reported the price as under $500 million