Wenger announced that deals have been struck after the Gunners’ 3-1 victory over Watford on Saturday.
“We have bought two players, Mustafi and Perez,” Wenger said. “We have to finish the paperwork. It looks as though it will be announced at the beginning of the week.
“They will integrate into the team now and we will help them join squad. We had to work very hard to get signings done. We have not got any plans for anyone else now.”
Wenger previously said about Perez: “He is a late-developer, he played in a different position, he moved centrally in a successful way. I think he has good link-up qualities, good finishing qualities.”
The Frenchman also laughed off suggestions that the proposed £17-million deal is a panic buy as a result of pressure from fans.
“Look at my face, is it the face of somebody who does a panic buy? No. I try to make the decision.”
The Arsenal boss said of Mustafi’s reported £35-million deal: “When you restart, when you handle some leagues they are [on] holiday, there was the European Championships and nothing happened, you couldn't find anybody.
“He [Mustafi] was their [Germany] captain … we get what we wanted.”
The London-based club is set to finalise both the Perez and Mustafi deals for a combined value of £52 million.
The 27-year-old Perez scored 17 league goals in 36 appearances for Deportivo last season, whereas Valencia's 24-year-old Mustafi is a German international centre-back with 12 caps to his name.