Leicester have signed Sevilla captain Vicente Iborra for an undisclosed fee, believed to be £10.5m.
The 29-year-old midfielder, who helped Sevilla win three successive Europa League titles after joining them in 2013, has signed a four-year deal.
And after signing the Spaniard, Shakespeare said: “I’m absolutely delighted that Vicente has joined us.
“He’s a player with such a good pedigree from his time in Spain with Sevilla and he adds some really strong competition to our squad.”
Iborra played against Leicester in both legs of the Champions League tie last season when the Foxes knocked out the La Liga side in last 16.
He has made 172 appearances for Sevilla, scoring 30 goals, since joining them from Levante.
Iborra said: “I’m looking forward to experiencing the Premier League with my new team-mates next season. Everything about this club seems good and it’s been great to meet my new team-mates.”
“I’m starting to hit a certain age, trains pass and it was the moment to take it,” Iborra told Sevilla’s website.
“Destiny is fickle, but it’s a project that I find very attractive.”
The defensive midfielder has been allowed to leave after the club re-signed Ever Banega from Inter Milan.
“Iborra has shown exemplary behaviour in his time at the club and has won the unanimous respect and love of all Sevilla fans,” Sevilla said in a statement.
“His achievements with the club are colossal but he will also be remembered for his leadership on and off the pitch, and for the dignity with which he wore the captain’s armband.”