CLEVELAND: The Cavaliers acquired point guard Jeremy Pargo, a second-round draft pick in 2014, and cash considerations from the Memphis Grizzlies in exchange for guard-forward D.J. Kennedy on Wednesday.

Pargo, 26, played in 44 games for the Grizzlies last season, averaging 2.9 points and 1.3 assists in 9.7 minutes.

“Our approach remains consistent as we try to bring in young talent, create future opportunity with draft picks as potential assets, and maintain flexibility,” Cavs General Manager Chris Grant said. “Jeremy adds depth to our backcourt. He is a young, aggressive, athletic guard who we feel fits well with our style of play, both defensively and offensively.”

The Cavs were in the market for a point guard to back up Kyrie Irving and now have three (Donald Sloan is the third) on the roster. The Cavs signed Kennedy in the final week of last season. He played in two games, averaging six points, 3.5 rebounds and 1.5 assists.