Rangers acquire reliever Tim Wood from Pirates

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In the second waiver deal of the month, the Rangers have acquired right-hander Tim Wood from the Pirates for a player to be named or cash.  They then optioned the reliever to Triple-A Round Rock.

Wood, a 28-year-old who pitched for the Marlins in 2009-10, had a 5.63 ERA in eight innings for the Pirates this year before being designated for assignment Friday.  He throws 92-96 mph and shows a pretty good slider, but in 58 innings as a major leaguer, he’s walked 33 and struck out just 28.  The Rangers will likely call him up for relief depth in September, but he’ll need to impress then to become a part of their plans for 2012.

Giants sign Austin Jackson to two-year, $6 million contract

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The Giants announced on Monday night the signing of outfielder Austin Jackson. According to Jon Heyman of FanRag Sports, it’s a two-year, $6 million deal with performance incentives that allow Jackson to earn up to an additional $2.5 million for a total of $8.5 million.

Jackson, who soon turns 31 years old, spent last season with the Indians. In 318 plate appearances, he hit .318/.387/.482 with seven home runs, 35 RBI, and 46 runs scored.

The Giants have been on the hunt for a center fielder and Jackson addresses that need relatively cheaply. Jackson will join Hunter Pence and newcomer Andrew McCutchen in the outfield.