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The leading telecommunications company Verizon entered into an agreement with America Movil to acquire the leading pre-paid and value mobile solution provider in the U.S. Tracfone.

  • The acquisition of Tracfone expands Verizon’s portfolio into the value segment, bringing enhanced access to its industry-leading wireless network and comprehensive suite of mobility products and services to a new customer base.
  • Tracfone is the largest reseller of wireless services in the US, serving approximately 21 million subscribers through a network of over 90,000 retail locations nationwide.
  • Following the acquisition, Verizon expects to bring its award-winning 4G LTE and 5G networks and other innovative technologies to Tracfone customers, further develop Tracfone’s distribution channels, and expand Tracfone’s market opportunities.

The major deals and agreements by Verizon are mentioned below:

August 2020, Verizon Communications Inc. had entered into four more long-term renewable energy purchase agreements (REPAs) totaling more than 450 megawatts (MW) of renewable energy capacity as part of its commitment to be carbon neutral in its operations (scope 1 and 2) by 2035. These agreements, which are virtual power purchase agreements, will help finance the re-powering of wind energy facilities and the construction of new solar facilities.

July 2020, Verizon Business and IBM announced a collaboration to work together on 5G and edge computing innovation to help enable the future of Industry 4.0. The companies planed to combine the high speed and low latency of Verizon’s 5G and Multi-access Edge Compute (MEC) capabilities, IoT devices and sensors at the edge, and IBM’s expertise in AI, hybrid multicloud, edge computing, asset management and connected operations.

April 2020, Verizon Business announced a definitive agreement to acquire BlueJeans Network, a trusted enterprise-grade video conferencing and event platform. The acquisition expands Verizon’s immersive unified
communications portfolio. BlueJeans’ cloud-based video service currently serves a wide variety of business segments from small organizations to some of the world’s largest multinational brands, and has played a significant part in continuing those companies’ operations during the ongoing work-from-home surge.

About Verizon
Verizon Communications, headquartered in New York, United States is one of the largest communication technology companies in the world. The company offers voice, data and video services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. The company has more than 135,000 employees in around 150 global locations.

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