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Verizon Communications Inc. VZ, +0.42% has agreed to buy videoconferencing company Blue Jeans Network Inc., as an unprecedented number of people work remotely because of the coronavirus pandemic.
The carrier will pay less than $500 million for the Zoom Video Communications Inc. ZM, -1.57% rival, a person familiar with the terms said. The deal, announced Thursday and previously reported by The Wall Street Journal, is part of an effort to bolster Verizon’s business group as the carrier rolls out faster 5G networks and pitches new applications of wireless technology to its largest corporate customers.
