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."
Mandzukic fills the gap left by Argentina striker Carlos Tevez, who has returned home to Boca Juniors - his first senior club - from the Serie A champions.
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