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Joonas Korpisalo signed a five-year, $20 million contract with the Ottawa Senators on Saturday. It has an annual average value of $4 million.

The 29-year-old goalie was 18-14-4 with a 2.87 goals-against average, .915 save percentage and one shutout in 39 games (37 starts) for the Los Angeles Kings and Columbus Blue Jackets last season, including 7-3-1 with a 2.13 GAA, .921 save percentage and one shutout in 11 regular-season games after he was acquired in a trade with the Blue Jackets on March 1.

"Everything happened really quickly yesterday," Korpisalo said. "It's a hectic day and there's so much going on. Ottawa stood out right there. Playing against that team, it's not fun being a goalie being at the other end. I wanted to be part of the team for many years to come and I'm excited about it."

Korpisalo was 2-4 with a 3.77 GAA and .892 save percentage in six Stanley Cup Playoff games last season. He joins the Senators after they were 39-35-8 last season, six points behind the Florida Panthers for the second wild card into the playoffs from the Eastern Conference.

"It's a long-term process and where the team is right now, I want to be part of that for years to come," he said.

Selected by Columbus in the third round (No. 62) of the 2012 NHL Draft, Korpisalo is 94-81-25 with a 3.01 GAA, .904 save percentage and four shutouts in 221 regular-season games (201 starts) for the Kings and Blue Jackets, and 5-9 with a 2.59 GAA, .922 save percentage and two shutouts in 15 playoff games.

Korpisalo will share the goaltending with Anton Forsberg. The two were teammates in the Blue Jackets organization.

"We go a long way back," Korpisalo said. "When I first came over to the U.S. we played together in the minors in Cleveland (of the American Hockey League) for a couple of years. We won together there and then we spent some time in Columbus. So we go a long way back and we became friends immediately when we met each other. I'm super happy we created this tandem again."

NHL.com staff writer Mike Zeisberger contributed to this report

Joonas Korpisalo joins Ottawa Senators