Davidson was named a Pacific Coast League midseason All-Star and won the 2013 Triple-A Home Run Derby.
"As a young, power-hitting third baseman, Matt has put up impressive offensive numbers at every stop in the minor leagues, often as one of the youngest players at his level," said Rick Hahn, White Sox senior vice president/general manager. "We view him as potentially a middle of the order, run-producing third baseman for a long time."
Davidson also appeared in 31 games (18 starts at third base) with the Diamondbacks, hitting .237 (18-76) with three home runs and 12 RBI. He made his major-league debut on August 11 vs. the New York Mets and hit all three of his home runs in an eight-day span from September 15-22.
The 6-foot-2, 225 pound Davidson entered the season ranked by Baseball America as the No. 4 Prospect and Best Power Hitter in the Diamondbacks organization. He has been ranked among Baseball America's Top 100 Prospects each of the last three seasons, including 88th in 2013, 97th in 2012 and 99th in 2011.
Davidson was a Southern League All-Star with Class AA Mobile in 2012 and a Midwest League All-Star with Class A South Bend in 2010.
Davidson, who hits right-handed, is a career .268 (596-2,220) hitter with 80 home runs, 374 RBI, a .351 on-base percentage and .452 slugging percentage in 591 games over five minor-league seasons in the Arizona system. He originally was selected by the Diamondbacks with a supplemental pick (35th overall) in the 2009 First-Year Player Draft out of Yucaipa (Calif.) High School.
Reed, 24, went 5-4 with a 3.79 ERA (30 ER/71.1 IP), 40 saves and 72 strikeouts over 68 relief appearances with the White Sox last season. His 40 saves ranked fifth in the American League and were tied for the fourth-most in franchise history.
Reed has gone 8-6 with a 4.17 ERA (62 ER/133.2 IP), 69 saves and 138 strikeouts in 136 career appearances over parts of three seasons with the White Sox from 2011-13. He was selected in the third round of the 2010 First-Year Player Draft.