Although he likely won’t contribute much on the field, Branch may be able to earn his paycheck by providing information about the Patriots.
"We have a pool of guys in case you have injuries," said Indianapolis head coach Chuck Pagano. "Deion was one of the guys we worked out."
"He's a local guy who lives in Carmel, [Ind.], he's in great shape, had a great workout and obviously he's a proven guy and played at a high level for a long time in this league. With him being right here in our backyard and us having some familiarity with him from just working him out, it just made sense to bring him on board at this point."
Branch, 34, originally worked out for the Colts in December.
"We figured the questions were going to come up that we were signing this guy who spent some time in New England," Pagano said. "Is it just a coincidence or do you need the guy to help you win a football game and help your team? Every decision we make is based on what's best for this team and what gives us the best chance to win, and we think we have one heck of a football player."
The veteran receiver spent seven seasons with New England and was named MVP of Super Bowl XXXIX. In his only career game against the Patriots as a member of the Seattle Seahawks, Branch caught four passes for 88 yards and two touchdowns.