Other pieces in the deal include Tyler Wagner, who is headed to the Diamondbacks, as well as Chase Anderson and Isan Diaz, who are headed to the Brewers. The trade was first reported by ESPN's Keith Law.
The Diamondbacks have wanted to deal Hill for quite some time now, as Robert Murray of Baseball Essential reported. He is owed $12 million in 2016 and has underperformed as he ages.
In order for the Brewers to take on Hill, the Diamondbacks rewarded them with the addition of Diaz, their 2nd round pick in 2014. He has developed beautifully, posting an eye popping 1.076 OPS in 312 plate appearances last year in Rookie ball.
From the Brewers' perspective, they had to pull this deal off as they look to rebuild. The team went 68-94 last season and are not near contention anytime soon.
For them, Segura was expendable due to the emergence of top infield prospect Orlando Arcia. He is rated as the sixth-best prospect in baseball, according to MLB.com. Arcia is going to be the centerpiece of the next contending Brewers team, so they felt they needed to clear the path for him by dealing Segura.
But it will be Hill who heads to Milwaukee's big league club in the meantime. The 33-year-old hit .230/.295/.345 with six homers and 32 RBIs in 353 plate appearances last season. He was worth 0.1 FanGraphs Wins Above Replacement.
As for the the Diamondbacks, they have wanted infield depth after committing to contention this offseason.
They signed Zack Greinke to a long-term deal and acquired Shelby Miller from the Braves, solidifying themselves as a force in the National League. But they didn't see themselves as complete, wanting another infield piece and an upgrade over Hill.
That's where Segura came in. The only issue is, however, he has no big league experience at second base. He last played there in 2012, while still in the Angels organization.
The soon-to-be 26-year-old hit .256/.281/.336 with six home runs and 50 RBIs in 584 plate appearances last season. He stole 25 bases in 31 attempts. Known for his defense, Segura was worth 0.3 FanGraphs Wins Above Replacement (fWAR).
Tyler Wagner and Chase Anderson were also exchanged in the deal.
Wagner, 25, made three starts for the Brewers in 2015, allowing 11 earned runs in 13 2/3 innings.
Anderson, 28, has been with the Diamondbacks for two seasons and owns a career 4.18 ERA and a 216 to 80 strikeout-to-walk ratio in 267 innings pitched, making 48 starts.