Updated

Indianapolis, IN (SportsNetwork.com) - The Indianapolis Colts could have a veteran presence at wide receiver for Saturday's AFC Divisional Playoff matchup with New England after agreeing to terms with two-time Super Bowl winner and former Patriot Deion Branch on Monday.

Branch, 34, hasn't played in the NFL since the 2012 campaign, when he caught just 16 passes for 145 yards in 10 regular-season games with the Patriots before adding two catches for 16 yards over two playoff tilts.

A proven postseason performer, Branch -- the MVP of Super Bowl XXXIX -- has racked up 64 catches for 948 yards and four touchdowns in 17 playoff games, while his 21 receptions in three Super Bowl appearances rank third all-time, trailing only Jerry Rice (33) and Andre Reed (27).

Over 12 seasons with New England and Seattle, Branch has compiled 518 catches for 6,644 yards and 39 touchdowns in 140 regular-season games (111 starts).

The Colts also elevated wide receiver Josh Lenz from the practice squad to the active roster, released defensive tackle Christian Tupou from the practice squad and placed defensive end Fili Moala and cornerback Greg Toler on injured reserve.

Moala saw action in all 16 regular-season games with six starts and finished with 26 tackles and 1 1/2 sacks. Toler started the Colts' Wild Card round win over Kansas City prior to leaving the game with a groin injury.