Championship strugglers Plymouth have signed Everton striker Nick Chadwick for £250,000.
Chadwick failed to establish himself at Goodison Park
Chadwick, 22, who failed to make the breakthrough at Goodison Park despite a promising start, has agreed a two-and-half-year contract.
Delighted Argyle boss Bobby Williamson said: "We had to fight off a lot of competition. He's a player I've admired for a while."
"The opportunity to come here and play first-team football was a big carrot."
Williamson added: "He's a player who quite a few clubs in this division would have liked.
"They were content to wait and take him on a Bosman but we were prepared to pay the asking price."
Chadwick enjoyed a promising start to his career on Merseyside after making his debut in September 2001 against Crystal Palace.
He scored three goals in his first five games but failed to capitalise on his good start and has recently found himself out of favour.
Recent signing James Beattie, James McFadden, Marcus Bent and Duncan Ferguson are all above him in the pecking order.
Chadwick is expected to make his Plymouth debut against bottom side Rotherham on Saturday.