The Atlanta Hawks have traded veteran sharpshooter Kyle Korver to the defending champion Cleveland Cavaliers, sources from The Vertical first reported Thursday night.

This trade comes less than a week after trade rumors began swirling for Korver and his now-former Hawks teammates Paul Millsap and Thabo Sefolosha.

In the trade, the Hawks will receive Mike Dunleavy, whom the Cavs acquired from the Chicago Bulls in an offseason trade that cleared some cap space and helped facilitate the Dwyane Wade signing with the Bulls, guard Mo Williams, and a 2019 first-round pick.

In what was his 5th season with the Hawks, Korver was averaging 9.5 points, 2.8 rebounds and 2.3 assists in 27.9 minutes per game, more recently as a reserve. Korver’s biggest strength; however, by far, is his three-point shooting ability. He’s a career 42.9 percent three-point shooter and was shooting 40.9 percent from three in 32 games this season with Atlanta. He’s also led the league in three-point percentage three times (2013-14 & 2014-15) and set the record for highest three-point shooting percentage in NBA history (53.6 percent) during the 2009-10 season, while a member of the Utah Jazz.

Korver adds yet another dynamic shooter to a team that already ranks second in three-point percentage (39.1 percent), three-pointers made (12.9 per game), and three-point attempts (33 per game), according to ESPN. He joins a wing rotation that also includes DeAndre Liggins, Iman Shumpert, Richard Jefferson, James Jones, and Jordan McRae. With J.R. Smith having undergone surgery for a broken thumb last month and likely out for a few more months, Liggins had been starting at the SG position in his absence. Now with the addition of Korver, whether he’s starting or coming off the bench, the team obviously has more shooting. However, most importantly, the team has increased depth for coach Tyronn Lue to utilize even after Smith’s return, which is a quality every team needs, especially one looking to win their second straight NBA championship.

As for the Hawks, this move may just be only the first in what could be a series of moves over the next six weeks, as we approach the trading deadline. Neither Dunleavy nor Williams figure to be a part of the Hawks plans moving forward, so it is likely this move was done more so for the pick. However, now riding a 5-game winning streak and currently sitting as the 4th seed in the East, it will be interesting to see whether the Hawks’ front office make more moves in order to improve their standing for this season or look towards the future.