Adam Schefter tweeted the details:

Ravens reached agreement with former Seahawks wide receiver TJ Houshmandzadeh on a one-year, $855,000 deal. More at espn.com.

Personnel-wise, this is a strange fit, seeing as the Ravens already have a couple of talented possession-type receivers in Anquan Boldin and Derrick Mason. But Housh is a cheap upgrade at WR2/WR3 and he gives Joe Flacco another sure-handed route-runner.

From a fantasy standpoint, this probably hurts Derrick Mason more than Boldin, who will get his looks as the Ravens’ WR1. It gives Flacco a little boost because his receiver corps has more depth and could weather an injury to one of the aforementioned WRs.

As for Housh, he’s probably only worth a late round flyer at this point because he’s joining a new team and his role is unclear. It’s going to take him some time to get settled.