(Reuters) - Verizon Communications Inc (N:VZ) on Thursday agreed to buy video-conferencing company Blue Jeans Network Inc, a rival of Zoom Video Communications Inc (O:ZM), for an undisclosed price. Lockdowns enforced across the world to contain the spread of the new coronavirus have pushed people to work from home, leading to a surge in demand for video-conferencing apps such as Zoom, Cisco's (O:CSCO) Webex and Microsoft's (O:MSFT) Teams.
Verizon will pay less than $500 million for Blue Jeans, the Wall Street Journal reported, citing people familiar with the matter.