(Bloomberg) -- Atlassian Corp. agreed to acquire video-messaging startup Loom for $975 million, its largest deal ever, in a bet that more professional collaboration and instruction will be done remotely.

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Loom lets users record videos from their computer screens and share them with co-workers. The product is used by companies for tasks like on-boarding new employees, reviewing code, sharing feedback, explaining documents and all-hands meetings.

The startup’s ambition for video “aligns very much with our views about the future of work,” Atlassian Co-Chief Executive Officer Mike Cannon-Brookes said in an interview. Work among employees on different schedules or in separate time zones “is a bigger and bigger deal all the time.”

Loom will continue as a standalone product and be integrated into other Atlassian collaboration tools such as Jira and Confluence, Cannon-Brookes said.

The deal is roughly the size of Atlassian’s previous 20 acquisitions combined. Cash will be used for $880 million of the transaction, with the remainder in stock awards, the company said Thursday in a statement. The purchase is expected to be completed in the quarter ending in March 2024, and be “slightly dilutive” to operating margins through the fiscal year ending in June 2025, Atlassian said.

Atlassian, a maker of workplace productivity software, has experienced a slowdown in revenue growth over the last year, but delivered an optimistic view on future sales from cloud applications during its most recent earnings report. In February, it announced its first stock buyback of as much as $1 billion — a plan that won’t be affected by the acquisition, the company said.