Atletico Madrid have agreed a deal to sign Porto forward Jackson Martinez, the Colombia forward's agent has told AS.
Martinez, 28, had reportedly been a target for Arsenal, with agent Luiz Henrique Pompeo also claiming interest from Serie A side AC Milan.
However, Pompeo said a deal was sealed with Los Colchoneros on Tuesday with a reported fee of €35 million on the table.
"It was finalised today," he said. "We want to thank AC Milan for their interest right up to the end, we feel very honoured by it, but you can't be in two places at once."
Martinez is currently in Chile representing his country at the Copa America, where Los Cafeteros are preparing for Saturday's quarterfinal vs. Argentina, but Pompeo said his client is excited by the prospect of joining the 2013-14 Spanish Primera Division winners.
"It's a very big club, which has done important things in the league and in Europe," Pompeo said. "Jackson is going there to also achieve great things and to bring the best out of himself to become even better. That's his dream and he's very excited. He's really happy."
Pompeo also said that Atletico boss Diego Simeone maintained contact with Martínez to tell him what would be expected of the forward.
"He's a coach with a winning mentality," Pompeo said. "Now it just remains for Atletico and Porto to make the official announcement and after the Copa America, where Martinez is representing [his country], he will be presented with his new shirt."
Martinez has scored 67 league goals in his three seasons at Porto, and netted seven in eight appearances in last season's Champions League.