Northern Ireland striker Kyle Lafferty has agreed a five-year contract with Rangers after making the switch from Burnley for a fee in excess of £3m.
Rangers had offered Alan Gow as part of the deal and the midfielder remains in talks with the Turf Moor club.
However, Lafferty's move to Glasgow is not contingent on Gow's decision.
"The move has been a long time in coming and I'm thrilled to be at the club at last," Lafferty, 20, told the Rangers website.
Ibrox manager Walter Smith has already bolstered his attacking options after signing Kenny Miller and Andrius Velicka.
Now Smith has captured the 6ft, 4in forward, who can also operate on either flank.
"When I heard Rangers were looking at me, I really wanted to join them," added Lafferty.
"But there was a point when I thought they had lost interest.
"Hopefully, I can now show the fans what I can do on the pitch. All of my mates and family are big Rangers fans so they are pleased I'm at the club now."
Burnley are set to receive a further £250,000 when Lafferty makes a certain number of appearances for Rangers and a sell-on clause that includes a 10% cut of any future profit.
Last week Burnley boss Owen Coyle said Lafferty had made it clear he wanted to leave Turf Moor.
"Ultimately, from the fans' point of view, Kyle wanted to leave the club after saying he felt it was time to move on."
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Celtic had a bid for £2.75m plus Derek Riordan turned down by Burnley and Wolves were also interested in the Northern Ireland international.
Lafferty scored 10 goals in 56 appearances for Burnley and has won 16 caps for his country, notching five goals.
Gow, 25, has struggled to establish himself at Ibrox since moving from Falkirk last summer, managing just two comptetitive appearances.
Burnley have given Gow until next Thursday to make up his mind.
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