Deals
Verizon Buys Video-Chat Venture Blue Jeans for Work-at-Home Era
- Yankees’ Jeter led group that invested in company in 2015
- $400 million deal gives Verizon a service to rival Zoom, Webex
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Verizon Communications Inc. agreed to acquire a Derek Jeter-backed videoconference company, Blue Jeans Network Inc., jumping into an area that’s booming with the huge shift of white-collar workers to their homes.
Verizon, which had been in discussions to buy the company for nearly a year, is paying about $400 million for the closely held business, according to a person familiar with the transaction.