Arsenal have completed a deal with FC Nurnberg for the signature of Swiss striker Josip Drmic, according to the Metro.
The Gunners are in the market for a striker and the 21-year-old is seen as a typical Arsene Wenger signing, with plenty of potential yet easy on the pocket.
The player has scored 16 goals and assisted three in the Bundesliga thus far, a credible return for a player of his experience and given his age is likely to develop further under the careful guidance of the Frenchman.
Tottenham were also interested in the player but the striker has reportedly decided to move to the Red side of north london.
Arsenal are likely to bring in a few more names this summer, with the club in a secure financial state and desperate to end their trophy drought.
The Gunners went close this in the league this season but are now out of the title race as a barrage of injuries to key players brought the squad down to its knees. Their only remaining hope of glory is the FA Cup.
The absence of such midfielders as Aaron Ramsey and Mesut Ozil, who were the standout performers in the first half of the season, were a major blow, and Arsenal have struggled against top teams, losing 6-0 to Chelsea and 5-1 to Liverpool in the last two months.
Olivier Giroud's limitations as a striker were also a major concern coupled with the absence of Theo Walcott, who has missed most of the season with a knee injury.
Drmic's arrival will provide the Frenchman with some support.
The striker's wife has already started looking for accommodation in London, as revealed by Sky Sports reporter Lothar Matthaus. It will be a major step up for the striker, who will be desperate to replicate his form in one of the toughest leagues in the world.
"Arsenal are believed to be interested in Drmic. I know for a fact that his wife is looking for a flat in London. I assume that Drmic will finish the season with Nurnberg hopefully successful and Nurnberg will sell him afterwards with a good profit - in this case to Arsenal," Matthaus said.