They have reached an agreement with Monza to take the Brazilian full-back initially on loan with a mandatory buy-option set at €13 million.
The 24-year-old had an eye-catching 2022/23 campaign, bagging six goals and five assists in 35 Serie A games.
Augusto was also a key cog in the Monza side that finished 11th in the table, just a season after they earned promotion from the second tier.
Despite courting interest from several top clubs, he has chosen Inter as his next destination.
“He chose Inter because they make the Champions League,” said Monza CEO Adriano Galliani.
“Carlos Augusto is a wonderful boy and there is a fantastic relationship with him.
He wanted to play in the European cups and he deserves it because he is one of the best wingers in Europe.”
Galliani also added that Augusto believes that moving to San Siro is the best pathway to make it to the Brazilian national team.
Augusto has been earmarked as a replacement for Robin Gosens, who has been heavily linked with Union Berlin.
The Nerazzurri have struck a deal with the Bundesliga outfit, but the German defender is yet to agree to the move.
Augusto will be the latest player to join the long list of new arrivals at Inter, which include Yann Sommer, Marcus Thuram, Juan Cuadrado, Davide Frattesi, Yann Bisseck and Emil Audero.
However, Udinese midfielder Lazar Samardzic’s move to Inter is on the verge of collapsing despite the player undergoing his medical tests last week.
The Serbian’s entourage has made additional financial demands at the eleventh hour, but Inter will not renegotiate with them.
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