Swansea have won the race for the signature of teenage Exeter midfielder Matt Grimes, the Premier League club announced on Friday.
Grimes, 19, an England under-20 international, had been linked with a number of Premier League clubs, but has agreed a four-and-a-half year deal at the Liberty Stadium.
Grimes completed his medical on Friday but will not be eligible for Swansea until the visit of West Ham on January 10.
He made his Exeter debut in August 2013 and went on to make 62 appearances for the Grecians, scoring five goals.
Grimes is Swansea's second January signing after the arrival of Portugal striker Nelson Oliveira, who has joined on loan from Benfica until the end of the season.