The Cavs sent forward Mike Dunleavy, guard Mo Williams, cash and a protected future first-round draft pick to the Hawks for Korver, who gives the NBA champions another offensive weapon. The trade was agreed upon Thursday and completed Saturday.
The 35-year-old Korver will help Cleveland offset the loss of J.R. Smith, who will be out until April after having thumb surgery. The 6-foot-7 Korver is a career 43 percent from 3-point range and also has plenty of postseason experience.
Coach Tyronn Lue will bring Korver off the bench.
Dunleavy has been a disappointment for Cleveland this season and Williams hasn't played after saying he was retiring. By dumping him on Atlanta, the Cavs are also ridding themselves of the rest of his $2.1 million salary.