LONDON: Arsenal on Tuesday finalised the £34.2m signing of midfielder Fabio Vieira from Porto.
On June 17, Porto announced that the Gunners will pay an initial £29.9m for the 22-year-old, with the remainder coming from prospective add-ons.
Vieira has now signed a long-term contract with Arsenal, according to the club.
"I am very excited that we have identified and signed such a special talent," said Gunners boss Mikel Arteta.
"Fabio is a very creative player that will bring high quality and versatility to our attacking play."
Vieira has yet to earn a senior cap for Portugal, but at last year's European Under-21 Championship, he was named player of the tournament.
Last season, he helped Porto win the Portuguese top division by scoring six goals and providing a league-high 14 assists in 27 appearances.
After USA goalkeeper Matt Turner and teenage Brazilian attacker Marquinhos, Vieira is the Gunners' third summer signing.
"This is an important step forward in my career," Vieira told the club's official website.
"It certainly was a fast process. It was something that I was drawn to. Meeting the people at the club was a real positive for me. I'm loving it here and I'm here to give the team my all.
"I'm an attacking player who looks to find space between the lines, to be able to finish off moves either with assists or by scoring goals.
"I think those are the main attributes that Arsenal fans can expect from me."