Bournemouth have signed Wolves striker Benik Afobe for an undisclosed club record fee, thought to be about £10m.
The 22-year-old has joined the Premier League club on a four-and-a-half-year deal after passing a medical on Sunday.
Afobe, who arrived at Wolves from Arsenal a year ago, scored 23 goals in 48 games for the Championship side.
He becomes the Cherries' second signing of the January transfer window following fellow forward Juan Iturbe, who has signed on loan from Roma.
"It's been a long time coming," said Afobe. "I'm not saying I'm the finished article or the best that I'll ever be, because I know that I've got a lot to work on."
Bournemouth boss Eddie Howe said Afobe would "bring strength, power and hopefully goals", while the Cherries' chief executive Neill Blake said that his "outstanding progress" has been "difficult to miss".
Howe lost striker Callum Wilson and winger Max Gradel to long-term injuries earlier this season.
Bournemouth's previous record signing was £8m last summer for Ipswich defender Tyrone Mings - another long-term injury victim.
Wolves turned down offers from Norwich for Afobe in the summer, but the club "reluctantly" accepted a bid from the Cherries on Saturday.
"Benik has regularly re-stated his desire to leave Wolves and to test himself in the top flight at the earliest opportunity," read a Wolves statement. "Faced with this difficult situation, and with circumstances now changed, Wolves were left with little other option than to reluctantly accept the substantial bid."
The fee Wolves received is the club's biggest since they sold Steven Fletcher to Sunderland for £14m following relegation from the Premier League in 2012.
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