Wolves manager Stale Solbakken has made Rennes winger Razak Boukari his sixth signing of the summer.
Boukari, 25, has signed a four-year contract at Molineux and could make his debut against Northampton in the Capital One Cup on Thursday.
The Togo international was initially wanted by West Ham United, but their £10 million purchase of Wolves winger Matt Jarvis opened up Boukari's route to Molineux.
He said: "I want to contribute and score goals and help the team do well, and we want to aim for promotion. I know there is pressure and fans wanting us to do well - but that is good and I will enjoy it.
"I know it is not the Premier League, but that is not a problem because I just want to play football and hopefully I can do that at Wolves." Boukari's former Rennes team-mate Tongo Doumbia is already on a season-long loan at Molineux, and was key to persuading him to sign.
"I spoke to Tongo before making my decision and he said it was a very good club and he was enjoying being here," he said. "I think it is good to know these players already, and it will help me settle in."
Boukari started his professional career at French Ligue 2 side Chateauroux, from where he joined Lens in 2006. In four years at Lens, he made over 100 appearances and scored 11 goals, moving to Rennes in 2010.
Boukari scored seven goals in 37 appearances for Rennes as the club finished last season in sixth place in Ligue 1.
Solbakken has been looking for attacking options in wide areas and said: "I am delighted to have signed Razak. He is a winger with good speed who can play on both sides and give us more options in the wide areas.
"He had an injury last season but is fit now and ready to go and he will help us in what we are trying to do."