Barcelona have signed Jordi Alba from Valencia in a €14 million deal, the two clubs have confirmed.
Alba, 23, has put pen to paper on a five-year contract, with confirmation of the move following widespread reports that the one-time Manchester United target was set to sign a deal.
A statement on Barcelona's website said: "Barcelona announce that they have reached an agreement with Valencia for the transfer of Jordi Alba, who will undergo his medical next week.
"The cost will be €14 million, and the player will sign a contract for the next five seasons.''
A Valencia statement said: "Valencia Football Club and Barcelona have reached an agreement for the transfer of Jordi Alba. Valencia wish him the greatest of luck."
Speaking at a press conference on Tuesday, the Barca president Sandro Rosell said the club had set aside €40 million a year for players and confirmed that talks to sign Spain left-back Alba were under way.
"I am not happy these negotiations have leaked out, but they have," he said. Reports had suggested a €15m fee for the player was on the brink of being agreed.
Alba, who started his career in Barcelona's youth ranks, will replace France international Eric Abidal, who is recovering from a liver transplant.