Teague will wear #12 for Brooklyn.
The trade was first reported over the weekend, but couldn't be completed until league offices re-opened today following the weekend.
Shengelia tweeted out a goodbye to Brooklyn's fans:
— Tornike Shengelia (@TokoShengelia23) January 18, 2014
Teague gives the Nets an emergency third point guard following the team's trade of Tyshawn Taylor to open up a roster spot.
In 19 games this season, Teague has averaged 2.4 points, 1.5 assists and one rebound in 12.7 minutes per game.