Everton have completed the signing of midfielder Simon Davies from Tottenham for an initial £3.5m fee.
Toffees boss David Moyes said he was delighted to make the 25-year-old Wales international his first summer signing.
"He is someone who we have chased for a while. We hoped to get him in January but it didn't quite happen then," Moyes told Everton's official website.
Davies said: "I'm coming into the best years of my career and hopefully I can give them to Everton."
The fee for Davies could rise to £4m, depending on performance bonuses.
The midfielder joined Tottenham from Peterborough in January 2000 and went on to make 154 appearances, scoring 24 goals.
The player said he was "excited" to join a club with Everton's pedigree.
"This club has a good history of winning things and it is a club on the
up," he said.
"My first ambition is to help the club get into the group stage of the Champions League and because we finished fourth this season
the fans will be hoping to get into Europe again via the league."
Davies made his Spurs debut against Liverpool in April 2000 but endured an injury-plagued career at White Hart Lane.
Spurs sporting director Frank Arnesen said: "Simon has given this club great service but he was ready for a new challenge. We wish him all the best."