Bournemouth have landed Levante midfielder Jefferson Lerma for a club-record fee of £25m.
The Cherries have broken the record previously set when they spent £20m on Nathan Ake last summer.
"I'm so happy to be an AFC Bournemouth player," Lerma told the club's website.
"The transfer has been very long because it took a while for the clubs to reach an agreement, but the most important thing is that I am here now and everyone got what they wanted in the end.
"I have always loved the Premier League style of football and am very happy to have this opportunity. I am looking forward to success and doing important things for this club."
It has been a long time coming for Bournemouth, who were tracking Lerma long before the World Cup. The 23-year-old was a part of the Colombia squad who were knocked out by England in the quarterfinals.