VZ - Verizon Dials Into Video Conferencing Market With Acquisition of BlueJeans
Telecom giant Verizon (NYSE: VZ) is capitalizing on an unexpected opportunity created by the coronavirus pandemic. On Thursday, the company announced it would begin the process of acquiring video conferencing platform BlueJeans. Terms of the deal were not disclosed.
The global COVID-19 outbreak has forced millions to work from home for far longer than they may have ever planned to. A recent survey from market research outfit Clutch indicated that 66% of employees in the United States were working from home at least part of their time spent doing their job, while 44% of the United States' workers were doing their jobs from home at least five days per week right now. These employees still need to communicate with one another, though -- sometimes in a live, real-time setting -- spurring an unexpected need for video conferencing solutions.
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