The Chief Football Writer of The Telegraph, Sam Wallace confirmed this news on his Twitter feed.
Southampton and Aston Villa have agreed a £14m fee for Matt Targett, rising to £17m including add-ons. Expect the deal for the left-back to go through this weekend. Good business for Saints; solid long term investment for AVFC— Sam Wallace (@SamWallaceTel) June 29, 2019
Alan Nixon and other journalists have suggested that the fee for Targett is £11.5 million and rising to £14 million and £17 million depending on certain targets being met.
Villa's deal for Targett strengthens their full-back depth, and provides solid competition for Neil Taylor. What's more, it's relatively cheap considering Targett's age (23) and potential. It's a deal that works in the long-term and immediately. Targett would become Villa's first-choice left-back.
While a new left-back was likely needed, it's a position that isn't incredibly weak at Villa. Kortney Hause can fill in and Tyrone Mings is adept at the position, should an offer be accepted for the former loanee. Still, Targett would represent a welcome purchase for Villa.
Matt impressed at Fulham in the Championship a few seasons ago, but couldn't make a massive impact at Southampton who struggled last season until Ralph Hasenhüttl was able to provide a revival that eventually prevented relegation from the Premier League.
We still await official confirmation of the deal, but all things well - this should break soon.