Quick Take
Verizon Business (VZ) has announced the proposed acquisition of BlueJeans Network for an undisclosed amount, reported to be under $500 million.
BlueJeans has developed an enterprise grade video conferencing and event system.
With the deal, VZ makes a strategic move for its Business unit to combine BlueJeans’ collaboration and broadcast capabilities with Verizon’s network.
VZ appears to be fully valued at its current level, so my bias on the stock is Neutral.
Target Company
San Jose-based BlueJeans was founded to develop an online system to enable enterprises and individuals to have