Town have completed the signing of Chester City striker Jon Walters. The 23-year-old moves to Portman Road on a contract until 2010 for a fee believed to be £150,000 rising to £250,000 on appearances and goals, with Chester receiving 20% of the profit from any future sale.
Walters, who has been handed the Town number 19 shirt, says the move to the Blues came as a shock: "It's been a hectic time. I got a phonecall late last night and expected it to be from Scunthorpe.
"There was talk that they had been in for me, so I was surprised and delighted to hear that it was Ipswich and I was on the road at six o'clock this morning.
"I know a little bit about the club from watching them on TV when I was younger and having played at Portman Road recently. I know it's a massive club and it's a great opportunity for me.
"Looking around the place, it's a Premiership club and I know that is where Jim Magilton wants this club to be.
"I had a taste of the Premiership with Bolton when I was there and, looking back on my time there, I should have given it another year or so.
"I wanted to play regular first team football though, and moved on but I have always believed I can get back to that level. Hopefully, I can do that with Ipswich."
Boss Jim Magilton was impressed by Walters during the recent cup ties between Town and Chester: "I liked his movement and his all-round game. He was a constant threat and gave our defence problems in both matches.
"He's got a physical presence about him and has an edge and a hunger, and I like that in a player.
"Jon's had some experience of playing at the top level in his time at Bolton and he's determined to get back to that stage.
"He's got a good pedigree behind him and sometimes in the game you have to take a step backwards to go forwards.
"But he has a terrific work ethic about him and has the desire to move forward and I'm sure he is at the right club to do that."
Walters is likely to make his debut for the Blues in Tuesday's away game at Stoke City.