Sky Sports sources understand Arsenal have reached an agreement with Montpellier for striker Olivier Giroud.
The 25-year-old was the joint top-scorer in Ligue 1 last season with 21 goals and was instrumental in his side claiming the league title.
Arsene Wenger would have also been impressed with his all-round play which led to him providing nine assists for his team-mates.
Montpellier owner Louis Nicollin had claimed earlier this year that it would take 50 or 60 million euros to prise the striker away.
However, his stance over the player who is currently away on international duty with France at Euro 2012 appears to have softened.
Giroud will become Arsenal's second signing of the close season after Lukas Podolski once the deal is completed.