The Pacers said Thursday that they had acquired Barbosa from the Toronto Raptors in exchange for a second-round draft pick and cash considerations.
Barbosa has averaged 12.6 points per game in his nine-year career. The 29-year-old from Brazil averaged 12.2 points per game this season as a reserve for the Raptors.
"It's great to have Leandro join our team," Pacers president Larry Bird said. "He gives us added depth and scoring off the bench and will help us as we make our run to the playoffs."
It was a tough move for the Raptors to make.
"This is another move being made with the future in mind," Raptors president and general manager Bryan Colangelo said in a statement. "It's difficult to let a player like Leandro go, but this trade further underscores our plan of maximizing salary cap flexibility, acquiring assets and developing our young players."
Barbosa long has been one of the NBA's most explosive reserves. He was the league's 2006-07 Sixth Man of the Year, averaging 18.1 points per game for the Phoenix Suns despite starting just 18 times. He is a career 39-percent 3-point shooter who has made more than 800 triples in his career.
The Raptors also waived Anthony Carter. The 36-year-old point guard played in 24 games this season, averaging two points per game as a reserve. He has averaged four points per game in a career that began in 1999 with the Miami Heat. He averaged 7.8 points and 3.1 assists for Denver in 2007-08.