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The Ravens have struck a deal with Mike Wallace, as the two sides have agreed on a two-year deal worth a reported $11.5 million.

Apparently not convinced that last year's first-round pick Breshad Perriman is an immediate lock to fill their need for a deep threat, Wallace comes on board capable of that -- although as fantasy-football owners who rolled the dice on him can attest, he failed to deliver in that regard in Minnesota.

That said, the Ravens are quite familiar with what Wallace offers. He spent his first four seasons – the best stretch of his career – with the rival Steelers, who drafted Wallace in the third round in 2009. While wearing black and gold, Wallace posted his only two plus-1,000-yard seasons.

Wallace was released by the Vikings a week ago after tying or setting career lows in catches (39), receiving yards (473) and touchdowns (two).

So. ... Is there reason for optimism?

Clearly, Wallace wasn’t the perfect fit in an Adrian Peterson-centric offense in Minnesota or with Dolphins quarterback Ryan Tannehill the two seasons before that and he realizes it.

“You have a quarterback that can really sling the ball,” Wallace told Baltimore Sun staffer Jeff Zrebiec when asked about Joe Flacco. “That’s what I need.”

He has a point.

As ESPN.com's Jamison Hensley noted this week, Baltimore will give Wallace the most chances to run straight down the field, which is what he does best. In Flacco's first seven seasons, he threw 108 passes that traveled 40 yards or more in the air. That's 20 more than any other quarterback over that span. Flacco completed 28 of them (only Drew Brees had more).

Last season, Vikings quarterback Teddy Bridgewater attempted four such passes. He connected on none of them.

We'll see if Wallace can maximize the opportunity.

Remember: Wallace will be joining a receiving corps with Perriman, who is expected to return this spring from the knee injury that derailed his rookie season, Steve Smith (who is making a comeback from a torn Achilles tendon), Kamar Aiken, who impressed down the stretch, and slot man Michael Campanaro as well as newly-signed tight end Ben Watson, Crockett Gillmore and second-year man Maxx Williams.

If the Ravens don't rely too heavily on him, perhaps Wallace can re-emerge as the kind of deep threat he was in Pittsburgh early in his career. Remember when Wallace averaged 19 and 21 yards per catch his first two seasons? He still has that speed. And now he might have the right situation.