Chelsea have announced the signing of Queens Park Rangers striker Loic Remy on a four-year deal.
Chelsea triggered a £10.5m release clause in Remy's contract on Saturday lunchtime and he was then left out of QPR's squad to face Sunderland.
"I feel very happy and very proud," said Remy, 27. "When I heard Chelsea wanted to sign me I said 'let's go'."
Arsenal also made an enquiry for the Frenchman on Saturday night but quickly ended their interest.
Chelsea had been seeking to reinforce their attack after Fernando Torres moved to AC Milan on loan.
"They are one of the best clubs in the world," Remy added.
"I remember the amazing atmosphere at Stamford Bridge when I played there for Marseille and I can't wait to play for the first time in front of my new fans."
Remy was close to a move to Liverpool earlier on this summer when the Reds also met his release clause but the transfer fell through after reports of a failed medical.
It is understood he offered to play against Sunderland but QPR boss Harry Redknapp decided to leave him out.
"The deal looks like it has been done, so I had to make a change," said Redknapp after the 1-0 victory.
"He was in the team. I just got a phone call about 12 o'clock to say it looks like he is going to be moving.
"He didn't refuse to play, but it's difficult to go out there to play and get your head around it."
Arsenal will be without striker Olivier Giroud until the end of December with a broken leg but it appears they are unlikely to bring in a forward to fill the void.
The Gunners enquired about Remy when they thought one of their strikers may leave but, with that now not likely to happen, they ended their interest.