Per ESPN's Adam Schefter, the New England Patriots have acquired wide receiver Jalen Saunders from the New Orleans Saints for an undisclosed draft pick. Saunders was a 4th round pick by the New York Jets in the 2014 draft and spent stints of the 2014 season on the Cardinals and Seahawks practice squads. Bill Belichick and the Patriots received a first-hand look at the receiver during this off-season's joint practices.
Don't read too far into the acquisition as teams are whittling their rosters down to the 75-man limit required. As the Patriots have placed four wide receivers on the injured reserve, and likely will not play Julian Edelman and Brandon LaFell in the final preseason game, there was an immediate need to fill the position.
Saunders has an uphill fight to make the roster and is likely just camp fodder at this point in time. He will fill the role vacated by Josh Boyce and Jonathan Krause. The conditional pick will be revealed shortly, but don't be surprised if it's contingent on Saunders making the roster and that this could be a free move by Belichick to help out the camp depth.