Atletico Madrid have agreed to sign Porto's Colombia striker Jackson Martinez in a £24.8m deal.
Martinez had been linked with Arsenal, but Porto said Atletico had agreed to pay his release clause.
The 28-year-old moved to Porto in 2012, scoring 67 goals in 90 games and finishing as the Primeira Liga's top scorer in each of his three seasons.
Martinez, who replaces Mario Mandzukic after he joined Juventus, said: "I'm excited about this move."
Martinez almost joined AC Milan earlier in the summer before the deal broke down.
Read: Breaking News