Inter Milan have signed Portugal winger Ricardo Quaresma from Porto, with midfielder Pele heading in the opposite direction.

The 24-year-old passed a medical on Monday before putting pen to paper on a five-year contract with the Italian champions.

Quaresma, who will wear the number 77 shirt for the Nerazzurri, will be officially unveiled at a press conference at 1230 local time on Tuesday.

Portuguese champions Porto confirmed earlier on Monday that the two clubs had agreed a fee which could rise to 30.6 million euros and includes Pele.

A statement on the club's website read: "Porto announce they have reached an agreement in principle with Internazionale for the transfer, on a permanent basis, of the sporting rights of Ricardo Quaresma.

"The agreement is fixed at 24.6 million euros and foresees the receipt of 18.6 million euros, to which can be added the value of 6 million euros, resultant of the acquisition of the sporting rights of Pele.

"The entire value to be received for this transfer could reach 30.6 million euros, depending on the sporting performance of Ricardo Quaresma and of the club that he will represent, Internazionale, during the next three seasons."

The deal puts an end to months of speculation linking Quaresma with a move to the San Siro and reunites him with compatriot Jose Mourinho, who took up the Inter reins this summer.