Both the Rams and Owls were linked with a summer move for Simon Terodde.
The play-off pair were said to have been tussling for Terodde
However, Stuttgart confirmed via their official site on Tuesday that the former Bochum player had signed a three-year deal with them instead.
Stuttgart (@VfB) 14 June 2016
The five-time German champions were relegated for the first time in 41 years in May, and the capture of Terodde, who scored 17 goals the previous campaign, stands them in good stead for an immediate return.
Neither Derby or Wednesday have conducted any transfer business since losing to Hull City in last month's play-offs, in the semis and final respectively.
Pearson has replaced Darren Wassall at Pride Park
However, even if the Rams had been interested in Terodde, their plans may have changed following the recent appointment of Nigel Pearson as manager.
Wednesday, meanwhile, have been linked with a number of strikers of late - notably Millwall's Lee Gregory, Fulham's Ross McCormack and ex-Sunderland man Steven Fletcher.
Fletcher: A new Owls link