The Cincinnati Reds have officially announced the signing of right-handed pitcher Edinson Volquez to a one-year contract. The signing avoids the arbitration process for both parties.

ESPNDeportes.com’s Enrique Rojas first reported that the sides were close to a one-year, $1.6 million deal on January 29 and Mark Sheldon of MLB.com confirmed that the sides agreed to the deal on January 30.

The terms of the deal were not made public, but the right-hander asked for $2 million while the Reds countered with $1.3 million.

Volquez was 4-3 with a 4.31 ERA in 62.2 innings throughout 12 starts in 2010.