Southampton has signed striker Che Adams from Birmingham City and allowed Matt Targett to join Aston Villa.
Adams has agreed to a five-year deal following a fine season for Championship side Birmingham, in which he registered 22 goals and six assists in 48 appearances in all competitions.
Saints claim to have beaten "a number of Premier League suitors" to the 22-year-old's signature.
"Che fits the profile of player we want to bring to Southampton and is very driven to show what he can do at the highest level," said boss Ralph Hasenhuttl.
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"We have been monitoring his progress for some time now. He has shown a desire to join us above all other clubs, which shows the positive reputation Southampton has built for developing young players."
Southampton, which spent a reported £15million on Adams, has also sold left-back Targett to Villa for around the same fee.
"We're very pleased to have Matt join us," Villa head coach Dean Smith told the club's website. "He's a player we have been looking at for a considerable amount of time.
"He fits our criteria of being a young player with experience of playing in the Premier League and having the potential to develop further. He will help make us a stronger defensive unit and we are all looking forward to working with him."
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Targett joined Southampton as an eight-year-old and made 63 appearances in all competitions after making his debut in 2014.
"Targett has been an outstanding ambassador for the academy, setting a fine example for future Staplewood graduates," the club said in a statement.
"Everyone at Southampton Football Club would like to thank Matt for his tremendous service and wish him every success in the future."
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