Luton Town have beaten Preston to the signing of Ipswich striker Sam Parkin.
North End revealed earlier on Thursday that the powerful frontman had opted to join The Hatters as he wanted to stay in the South of England, and now Ipswich boss Jim Magilton has confirmed the deal that is worth an initial £340,000.
Parkin has signed a three-year contract with The Hatters and will act as a replacement for the popular Steve Howard, who moved to Derby County for £1 million earlier in the summer.
Luton boss Mike Newell has already recruited Adam Boyd from Hartlepool to bolster his frontline and now Parkin will also compete with Warren Feeney and Rowan Vine for a place in The Hatters' attack.
The Bedfordshire side could eventually pay £500,000 due to add-on clauses for the striker who rose to prominence with Swindon Town, and Ipswich boss Magilton is hoping to reinvest the money in his squad before the transfer window closes.
"Sam's move here from Swindon never really worked out," said Magilton.
"The fee we've agreed represents good business and adds to the budget I already have available to bring in new additions.
"We've been on a constant look-out for players who will add the quality we feel we need at this club and I hope to have at least one new addition before the transfer window closes at the end of August."