UPDATE 3:25PM EST: Britt Ghiroli tweets that the Orioles have designated left-handed pitcher Pedro Viola for assignment to make room for Teagarden.

1:40PM EST: The Baltimore Orioles have acquired Taylor Teagarden from the Rangers in exchange for minor leaguer and a player to be named later, according to Jon Heyman of Fox Sports and Dan Connolly of the Baltimore Sun.

We first heard this rumored by Connolly, after which Brit Ghiroli explained:

• Orioles talk with Rangers about Teagarden; Mathis could fit backup plan - baltimoresun.com
  "According to an industry source, the club is having ongoing talks with the Texas Rangers about 27-year-old backstop Taylor Teagarden, a former third-round pick who has batted.220 in 350 major-league at-bats spread over four seasons with the Rangers."
• Orioles in talks for Teagarden - Britt Ghiroli
  "A defensive minded catcher who is out of options, Teagarden wouldn’t command a large price, probably a Minor Leaguer or two, and would help add depth to the Orioles’ 40-man roster, which doesn’t have any catcher other than Wieters. Just 25 years old, Wieters was selected to his first All-Star game last year but manager Buck Showalter would prefer to give the young backstop more rest this season."

• Orioles get Teagarden for minor-leaguer Randy Henry and a PTBNL - baltimoresun.com
  "Teagarden was drafted by Texas in 2005 while Orioles manager Buck Showalter managed the Rangers, and he is quite familiar with the defensive-minded backstop who played in just 14 games in the big leagues last year."