Town have completed the signing of Leeds United left-back Leif Davis on a three-year deal with the club having an option for a further season.
TWTD revealed earlier this month that the Blues had made an offer of £1 million mark plus a further £500,000 in potential top-ups for the 22-year-old, who had a year left on his Leeds contract.
The final fee is officially undisclosed but is likely to be in excess of that figure with discussions between the clubs having been ongoing for a number of weeks while Davis has been away with the Leeds squad on their pre-season tour of Australia.
It's almost certainly in the top five fees paid for a defender by a League One club.
"I am delighted to be here,” Leif told iFollow Ipswich. "This is the best step for me at this point in my career. I want to play games and help the team in any way I can.
"I'll always give it my all when I am out on the pitch and I can't wait to meet the fans at Portman Road.”
Manager Kieran McKenna added: "We're really happy to have Leif with us. This is one the club has worked hard on this summer.
"He is a player that fits the bill of what we want. He is young, hungry, athletic and technically very good.
"Leif has played games in pre-season and we are hoping he will be ready to make an impact early on.
"He'll get plenty of support from the staff and fanbase, and I know everyone will be excited to see him play.”
CEO Mark Ashton said: "Leif is a brilliant addition to the group. He is hungry to achieve success at the club and we are thrilled to have him on a permanent basis.”
Newcastle-born Davis was with Morecambe’s youth set-up as a schoolboy before joining the Elland Road club’s academy in July 2018.
Davis, who is 6ft tall and can also operate as a wing-back and at centre-half, spent last season on loan at AFC Bournemouth in the Championship, making 10 starts and five sub appearances, a move which was initially viewed as a precursor to a permanent switch.
However, injury limited his involvement and he returned to Elland Road before the end of the campaign.
For Leeds, Davis made six first-team starts and eight appearances from the bench.
Town have already signed one left-back this summer, former Morecambe man Greg Leigh, however it had been expected that they would look to bring in a second before the start of the season.
Davis's arrival as the club's sixth signing of the summer may well see Matt Penney move on before the end of the window.
Town are still continuing their pursuit of Leicester striker George Hirst but face opposition from Championship clubs for the former Sheffield Wednesday youngster from sides understood to include Blackpool and Blackburn, while Portsmouth remain keen on another loan for the 23-year-old, who was with them last seson. We understand at least one of the Championship clubs has made an offer.
According to the Portsmouth News, the Foxes are asking £2 million for Hirst, who is the son of former England international David.
The Blues are also still eyeing a return for ex-loanee Bersant Celina, whose switch to Turkish side Kasımpaşa broke down last week, but with no progress believed to have been made over the weekend.