Porto have wrapped up a deal for Jackson Martinez, with the highly-rated striker set to pen a four-year contract with the Portuguese outfit.
The Colombian striker is being billed as 'the new Falcao' and will follow in the footsteps of his fellow countryman at Estadio do Dragao.
Martinez arrives at Porto from Mexican club Jaguares.
"We reached a deal with Jaguares to sign Jackson Martinez for an $11million fee (£7m)," Porto said in a statement published on the website of Portuguese stock market regulator CMVM.
Liverpool were among those reported to be keen on acquiring Martinez's services, as they look to bring a proven goalscorer onto their books.
The 25-year-old has, however, taken the decision to cut his teeth in European football with the reigning Portuguese champions.
"I want to be a success in Europe," said Martinez.
"I hope people will not compare me with Falcao. I am a different type of player, but I promise that I will battle to get goals."
Reports in Portugal suggest that Martinez has had a €40million (£31.7m) buy-out clause inserted in his contract.