Atlanta, GA -- (Sports Network) - The Atlanta Hawks quickly matched a Memphis Grizzlies offer sheet for restricted free agent forward Josh Smith on Friday night.

The Grizzlies signed Smith to the offer sheet, valued at five-years and $58 million by the Atlanta Journal-Constitution, earlier in the day.

"Tonight, the Hawks organization received an offer sheet from the Memphis Grizzlies for Josh Smith," said general manager Rick Sund. "We are happy to announce that we will match their offer sheet. Ownership, management and the team are happy to have Josh return as a member of the Hawks. We look forward to training camp in October and we will continue to look at additional opportunities to improve our roster."

Smith, 22, is coming off a career year in which he averaged 17.2 points, 8.2 rebounds, 3.4 assists and 2.8 blocks in 81 games for the Hawks, who made the playoffs for the first time since the 1998-99 campaign, and pushed the eventual NBA champion-Celtics to seven games in the first round of the playoffs.

In four seasons with Atlanta, Smith has averaged 13.6 points, 7.4 rebounds and 2.6 blocks in 307 games.

The Hawks already lost the services of Josh Childress this offseason, when the forward agreed to play overseas by signing a three-year, $20 million contract with the Greek franchise Olympiakos.