Today Verizon announced that it will acquire BlueJeans, a cloud-based enterprise videoconferencing and event platform, pending regulatory approval. The transaction will combine BlueJeans’ meeting platform with Verizon’s UCaaS business immediately, according to the news release, and will be deeply integrated with Verizon’s 5G product roadmap.

Here’s what rAVe founder Gary Kayye had to say: “The Rodney ‘I don’t get no respect’ Dangerfield of video conferencing just got both a giant confidence boost as well as a branding boost! Verizon is arguably the number one or number two mobile phone brand in North America and is starting to build a brand around the rest of the world. Yes, by now, if you don’t see the value of an acquisition like this, you must be living under a rock because 300,000,000+ people are making video calls every single day — a nearly 10-fold increase in less than 90 days — and BlueJeans has always been sitting at position number four, five or six since its creation. A great acquisition for both companies!”

BlueJeans offers videoconferencing and collaboration tools, as well as cloud-based meetings and large, interactive events. In a letter from the founders, BlueJeans says its existing partners will continue to be able to resell its solutions. The two companies will target telemedicine, distance learning and field service work as high growth areas for secure and stable videoconferencing.

BlueJeans employees will become Verizon employees immediately following the close of the deal, which is expected to close in Q2 of this year. The BlueJeans founders and several other key members of the management team will stay on as Verizon employees as well.