As part of the deal, the Reds allowed promising defender Sepp van den Berg to join the Lilywhites on loan until the end of the season. The £4m versatile defender is capable of playing as a centre-back or a right full-back, and has been capped at youth level for the Netherlands.
Another youngster from Merseyside joined in the shape of Everton starlet Anthony Gordon also joined on loan. The 19-year-old has already made 14 Premier League appearances for the Toffees, and should add some real dynamism to the Toffees' attacking line.
Barnsley sealed a late loan move for Orlando City striker Daryl Dike. The 20-year-old made his USA senior debut last month, in a friendly match against Trinidad and Tobago. (Club website)
Meanwhile, the Lilywhites are hard at work behind the scenes gearing up for their next game, when they host strugglers Rotherham United this weekend.
While they may be in the relegation zone, Paul Warne's side shouldn't be underestimated, after they stunned play-off chasers Middlesbrough with a 3-0 away win last week.
A win for the Lilywhites could see them move to within touching distance of the play-off places, in a tightly-packed league table.
Here's our round-up of all the latest transfer talk and confirmed deals from the second tier, following yesterday's frantic deadline day:
Millwall landed ex-Man City starlet George Evans on a permanent move from Derby County. The versatile 26-year-old is capable of playing as both a defender and a midfielder. (Club website)
Huddersfield Town brought in former Basel and Middlesbrough goalkeeper Jayson Leutwiler. He left Fleetwood Town last month, and was briefly a free agent after his contract with the club expired. (Club website)
Veteran striker Glenn Murray left Brighton to join Nottingham Forest until the end of the season. He had been on a loan spell with Watford, but had only started one game this season prior to his switch to Forest. (Club website)
Watford raised eyebrows with the capture of the sons of both Denis Bergkamp and Mauricio Pochettino. The former, Mitchel, and the latter, Maurizio, will both be integrated into the Hornets' U23 side. (Club website)
West Brom midfielder Sam Field joined QPR on a loan deal. The ex-England U20 international spent last season on loan with Charlton Athletic. (Club website)
Derby County have one of their busiest January transfer deadline days yet, bringing in a total of five new players on loan. The pick of the bunch were Man Utd defender Teden Mengi, and Man City winger Patrick Roberts. (Club website)
Bournemouth are waiting for EFL approval to confirm their late loan swoop for Southampton forward Shane Long. The Republic of Ireland international has started just once for the Saints this season. (Club website)
Preston North End strengthened their side with three new additions. Among the new recruits was Stoke's Liam Lindsay, who had also been linked with Sheffield Wednesday, and Ben Gordon, who was on Blackburn's radar. (Club website)
Luton Town completed a couple coup on deadline day, bringing in Stoke City's £12m man Tom Ince on loan, and securing Walsall striker Elijah Adebayo on a permanent deal. (Club website)