Newly promoted Cologne have fended off interest from a number of Premier League clubs to secure the signature of Kevin Vogt.
The German Under-21 international midfielder has attracted interest from the likes of Aston Villa, Hull City, Southampton, Stoke City and Leicester City.
The 22-year-old has agreed a three-year deal at the RheinEnergieStadion after Cologne agreed terms with Augsburg.
Cologne chief executive Jorg Schmadtke told the club's website: "Kevin Vogt is a determined young German footballer with a great potential for the future years.
"He has impressed at FC Augsburg and shown he is capable of playing top-flight football."
One player who could be following Vogt out of Augsburg is full-back Matthias Ostrzolek.
Hannover have confirmed their interest in landing the 23-year-old, who is seen a as a possible replacement for Belgian international Sebastien Pocognoli - who looks set to leave this summer.
Hannover general manager Dirk Dufner told kicker-Sportmagazin: "If there is a quality player with a German passport and a good amount of Bundesliga 1 experience available, then this player (Matthias Ostrzolek) definitely is a man we are going to be interested in. Anyway, the transfer fee always is the most important part of every transfer."
Some better news for Augsburg is that their other full-back Ronny Philp has agreed a new three-year contract with the club.
Augsburg general manager Stefan Reuter stated: "We are happy to have agreed a new deal with Ronny Philp. We are able to go on with our plans due to this."