Belgium international Christian Benteke has completed his move to Crystal Palace from Liverpool.
ESPN FC sources revealed on Thursday that Liverpool had accepted a bid of £27 million, with a further £5m in add-ons, from Palace.
Benteke told the club's official website: "I'm very happy to commit my future to Crystal Palace and I'm looking forward to meeting the manager, the players and the staff.
"I feel really happy that the deal has been done and now I can look forward."
The Merseyside outfit have been adamant all summer that they are looking to recoup most of the £32.5m they paid Aston Villa for Benteke's services last summer.
#CPFC are delighted to confirm the signing of @chrisbenteke from Liverpool on a four-year deal. #WelcomeChristian pic.twitter.com/rYaJZ7jn6d
- Crystal Palace F.C. (@CPFC) August 20, 2016
Liverpool rejected an offer of £23m with a further £7m in add-ons from Palace earlier in the week, with a club source saying the clauses to trigger that additional money were "wildly unrealistic."
Alan Pardew's side are in need a frontman and are looking to reinvest the £25m they received from Everton in the sale of Yannick Bolasie.
Benteke, who has signed a four-year contract at Selhurst Park, is a proven Premier League scorer and, despite his unsuitability to Liverpool's high-pressing style last season, he scored 10 goals in all competitions in his lone campaign at Anfield.
The 25-year-old is Palace's fourth signing of the summer after Andros Townsend, James Tomkins and Steve Mandanda.