Zoom declared on Sunday that it’s purchasing Five9, a provider of cloud contact center software, in an all-stock exchange esteeming the organization at $14.7 billion.

The arrangement denotes Zoom’s initial billion-dollar obtaining and comes as the company plans for a post-pandemic world with representatives getting back to the workplace. It’s the second-greatest U.S. tech bargain this year, behind Microsoft’s arranged $16 billion acquisition of Nuance Communications, as indicated by FactSet.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,” said Zoom CEO Eric Yuan in a press release.

Five9 shut on Friday with a market cap of $11.9 billion, or $177.60 an offer. Zoom said Five9 investors will get 0.5533 portions of Zoom Video Communications for each Five9 offer. That qualities Five9 at $200.28 an offer, a 13% premium, and addresses about 14% of Zoom’s market cap of near $107 billion.

Zoom has been among the top growth stories in the 16 months since Covid-19 caused an abrupt closure of workplaces across the globe, compelling workers in finance, retail, tech and law offices to communicate from remote locations.

In the wake of extending income by 326% in 2020, Zoom faces a natural slowdown, particularly as organizations return and up close and face-to-face meetings continue. While the organization has dispatched new items to deal with coming changes to its business, it’s presently large to the point that natural development alone is probably not going to fulfill Wall Street. It additionally needs new income sources as Microsoft ramps up competition in video chat with Teams.

Zoom’s stock price jumped practically 400% last year, however it’s dropped 36% since arriving at its top in October.

Five9 has seen fast development of its own since mid 2020, as demand surged for call center technology that would permit delegates to tackle their jobs from home. Organizations needed to rapidly adjust to cloud software, everything being equal, including for their contact centers.

Five9′s income climbed 33% to $435 million last year. President Rowan Trollope revealed to CNBC’s Jim Cramer in May that the organization marked two of its biggest arrangements during the most recent time frame, anticipating that they should create more than $20 million combined annually.

“We’re not having to convince customers that cloud is an acceptable option anymore,” he said. “They’re just diving in.”

The deal unites two previous Cisco leaders. Yuan, who established Zoom in 2011, recently helped construct WebEx, which Cisco purchased in 2007 for $3.2 billion. He remained at Cisco until he passed on to begin Zoom.

Trollope will turn into a leader of Zoom and stay as CEO of Five9, answering to Yuan.

Trollope joined Cisco in 2012 following a 22-year career at Symantec. He in the end rose to become senior VP responsible for the entirety of Cisco’s joint effort items and was seen by certain examiners as the top lieutenant to CEO Chuck Robbins. He withdrew to play the CEO job at Five9 in 2018.

The exchange is relied upon to shut in the principal half of 2022. Five9 stockholders actually need to support the arrangement, and it requires regulatory clearance. Goldman Sachs prompted Zoom on the procurement, and Frank Quattrone’s Qatalyst Partners advised Five9.

The two organizations will have an approach Zoom for investors on Monday at 8:30 am New York time.