Toure arrives on a free transfer from Manchester City.
Wright told the Liverpool Echo: "It is fantastic business by the club.
"Toure has major experience and Brendan Rodgers has done ever so well to get him in.
"It is going to take a lot of replace Jamie Carragher and whether Kolo is to be in the starting line or a stand in, remains to be seen, but Toure has been around the block.
"It is a proper signing and he can fill in a number of positions.