Palermo have signed Argentinian midfielder Mauro Formica from Blackburn Rovers in an unspecified deal.
The Serie A strugglers have agreed a deal to end the 24-year-old's stay at Ewood Park after just 18 months.
Formica joined Blackburn for a reported ?3.5million from Newell's Old Boys but had not played for the club since their 4-1 home defeat to Championship leaders Cardiff on 7 December.
He was relegated with Rovers last season and joins a Palermo side second from bottom in Serie A and without a win in eight games.
"Palermo announces that it has reached with the Blackburn Rovers Football Club in an agreement for the acquisition of rights to Mauro Abel Formica," a statement on Palermo's website read.
"The Argentine footballer, born in 1988, will be available to the Rosanero technical staff from Thursday and will be presented on Friday."
Palermo are also reportedly interested in signing Wigan's Argentinian striker Mauro Boselli.
The 23-year-old is regarded as one of the best talents outside the top two divisions and was named the League Two Player of the Year last season.
Ritchie was a key figure in Swindon's promotion to League One and has carried that form into this season after scoring nine goals for Paolo Di Canio's side.
He was rewarded with a new one-year contact back in September and is currently tied to the County Ground until the end of next season.
However, he is again attracting interest from other clubs after being the subject of a ?500,000 offer from Bournemouth during the last January transfer window.
It is understood that Palace are interested in taking Ritchie to Selhurst Park as Ian Holloway looks to guide the club to promotion to the Premier League.