In a television segment on Fox Business, the Chief Executive Officer of Communications in Verizon, Hans Vestberg, discussed proposed economic reopening plans for industries across the country.
Vestberg told about his call to President Trump saying that they had been in contact with regards to reopening the country’s economy during the pandemic. He spoke to the President to inform him of the efforts of CEOs from other private sector companies and how they are in preparation for a reopening.
In his appearance, Vestberg outlined the intentions of the telecommunications industry in helping the economy on the road to recovery.
He argues that these industries have continued to be operative throughout the pandemic and are thus in a position to better aid the public sector due to the strength of their infrastructure.
Whilst on the show, Vestberg informed that the nature of the conversation centered on how the private and public sector can work in collaboration for a proposed reopening.
The effects of the COVID-19 pandemic have been far-reaching, with lockdown restrictions resulting in restricted movement outside of households.
In circumstances such as these, there has been a notable increase in the use of online applications and telecommunications services.
Capitalizing on the situation, Verizon recently announced the acquisition of BlueJeans Network Inc, a video conferencing firm. The acquisition is stated to be valued at $500 million.
An uptick in video conferencing apps comes as a direct result of the pandemic, with social distancing regulations resulting in increased usage of online video communication applications.
Speaking about the deal, Vestberg informed that Verizon had been in collaboration with the company for 16 months. After a series of product testing and reselling, the company finally decided to acquire BlueJeans Network Inc.
The rise of such tools of communication allows for greater accessibility to both the average Verizon customer, as well as those operating small and medium enterprises (SME).
With the pandemic causing businesses to change their method of operations like never before, Verizon and other technology giants are experiencing a permanent change from within their business.