Wolves have clinched the signing of Austria striker Stefan Maierhofer from Rapid Vienna on a three-year deal.

Maierhofer, who notched 23 goals in 37 games for Rapid last season, has joined the Barclays Premier League outfit for an undisclosed fee. The deal also includes an option for the club to extend the contract with the 6ft 7in frontman for a further season.

The 27-year-old became Wolves boss Mick McCarthy's second signing of the day following the arrival of Ecuador midfielder Segundo Castillo on a season-long loan from Red Star Belgrade.

"We are delighted to bring Stefan in as our ninth new arrival this summer," said Wolves chief executive Jez Moxey. "He is a player who has been a regular goalscorer for Rapid Vienna in recent seasons and helped the club qualify for the Europa League by contributing to their win against Aston Villa last week.

"Stefan had been targeted by Mick to add competition for places in the striking department, and once again we are pleased that the board and chairman Steve Morgan have been able to support the manager."

Maierhofer, who scored on his final outing for Rapid on Saturday, becomes the latest arrival at Molineux following a summer of intense transfer activity. He joins Castillo, Nenad Milijas, Marcus Hahnemann, Kevin Doyle, Andrew Surman, Greg Halford, Ronald Zubar and Michael Mancienne at the club, and Moxey revealed McCarthy would now be looking to offload players before Tuesday's deadline.

"There are still 24 hours remaining until the transfer window closes, and it may well be that there is more activity in the outgoing department," he said.

Maierhofer will now join up with the Austria national side for their forthcoming World Cup qualifiers with the Faroe Islands and Romania, before returning for Wolves' next Premier League clash at Blackburn on September 12.

Castillo earlier revealed his delight at being given a second chance to shine in the Premier League following a loan spell with Everton last season.

"I'm very happy to be joining Wolves," he told the club's website, www.wolves.co.uk. "It's another chance for me to prove myself in England. I hope after the internationals I will get quickly settled into the squad. I've been at teams at the top of the table in Ecuador and then with Everton last season but I'm looking forward to the challenge of trying to help establish Wolves in the Premier League."