Nigeria international Martins has completed his transfer from Newcastle to last season's Bundesliga champions Wolfsburg.
Martins, 24, who had spent the last three seasons with the Magpies, has agreed a four-year contract with the German side after passing a medical.
"He is just the type of player that we were looking for," said the Wolfsburg coach Armin Veh.
"He is not only quick, but he has also proven how dangerous he is in front of goal. Since he can also be used out wide, we now have more possibilities to play with two or three strikers."
The Egypt forward Mido has left Middlesbrough to join Zamalek of Cairo on a season-long loan.
The Egyptian giants have paid the Riverside Stadium club £4million upfront with an extra £1million payment due if they make the move permanent for the 26-year-old.
The former Roma and Spurs striker refused to return to the Championship club following last season's relegation from the Premier League.
West Bromwich Albion have signed the forward Reuben Reid from the League Two side Rotherham United.
Reid, 21, scored 19 times for the Millers last season and had put in a transfer request last month.
Veliche Shumulikoski looks to be on his way out of Ipswich Town to join Championship rivals Preston North End after manager Roy Keane accepted their bid.
The Macedonia international has been in talks with the Lilywhites. Shumulikoski joined the Portman Road outfit from Turkish side Bursaspor in January 2008 for £500,000 and made 43 appearances, scoring one goal.
The Sheffield United midfielder Nicky Travis has moved to Central Coast Mariners in Australia.