Just one hour after free agency began, Walden, 27, struck a deal with the
Colts owner Jim Irsay announced the news on his Twitter page.
According to the Milwaukee Journal Sentinel, Walden agreed to a four-year, $16 million contract with Indianapolis.
Walden was suspended for Week 1 of the 2012 season following an arrest over a domestic dispute. After that, he appeared in every game for Green Bay and collected three sacks and 46 tackles.
Walden played the past three seasons with the Packers after beginning his NFL career with a short stint in Kansas City and a season and a half in Miami. He was at his best with the Packers in their 2010 Super Bowl run, when he started two late-season games and throughout the playoffs after injuries hit other linebackers. He started 15 games in 2011 and only 10 in 2012 after the Packers drafted Nick Perry to replace him as a starter. He reclaimed the starting job after Perry was injured, but Perry is expected to be healthy for the 2013 season.