Wolves have signed winger Ivan Cavaleiro from Monaco for an undisclosed fee.
Cavaleiro, 22, has put pen to paper on a five-year contract and has the option of a further year with the Sky Bet Championship club.
"I am very happy to be here, knowing that a good team want me and I'm very excited for this new challenge," the Portuguese told Wolves' official website.
"I knew the club wanted me when I was in Portugal on my holidays. My agent called and told me and said that I could be part of Wolves this season.
"He told me that the club has got a new challenge this year - to go up to the Premier League. It's a good challenge for us so it's exciting and I want to help the team join the Premier League."
Carvaleiro progressed through Benfica's youth system and made his senior debut for the club in October 2013 against Olympiacos in the Champions League.
He spent the 2014/15 season on loan with Spanish side Deportivo La Coruna, for whom he scored on his debut and went on to make 34 appearances, before signing for Monaco in June 2015. Carvaleiro scored two goals in 17 appearances for the French side.