Verizon says it will buy Blue Jeans Network, Zoom competitor, reportedly for under $500 million


PHOTO: REUTERS/DADO RUVIC

U.S. telecommunications giant Verizon is today reported to be acquiring the videoconferencing company Blue Jeans Network in a transaction valued somewhere in the neighborhood of 500 million dollars.

Since the coronavirus pandemic struck the United States with full force about a month ago, the use of videoconferencing app Zoom has skyrocketed, but not without widely reported security and privacy issues, and a new word: "zoom-bombing," when malintents crash into your chat.

Verizon buying Blue Jeans? I don't know, but I can only think of bad things happening to a pretty good product that had advantages over its suddenly popular number one competitor.

More at the Wall Street Journal:

"Verizon Buys Zoom Conferencing Rival BlueJeans, Acquisition comes as the coronavirus spurs unprecedented work-from-home arrangements"

[via techmeme.com]

Observations from Twitter by reporters and others, below.