Posh have signed Crawley Town attacking midfielder Gwion Edwards on a three-year deal.
The 23-year-old had received from interest Scottish giants Celtic and Rangers but has moved to the ABAX for an undisclosed fee.
The Welshman will now fly out to Portugal to meet his new team mates.
Posh boss Grant McCann said the club has been tracking Edwards for a while, adding: “He will suit the way we play, he can play anywhere across the midfield and attacking areas of the pitch. He is a special talent and I am confident we can make him better in the future.
“He is a clever player, he is very direct, he runs at people with the ball, has scored a lot of goals in the last few years and I am sure he will excite the fans.”
Former Swansea youngster Edwards said: “I have obviously played against Peterborough home and away and I know exactly how they play football and that suits my style. I have spoken to the manager and I am really happy to be here.
“It has happened very quickly. It was a long drive to get here to get the paperwork signed but it is all done now and I can look forward to Portugal and meeting the rest of the players.”