Leno has made six appearances for Germany but was not named in their World Cup squad, enabling him to hold talks with Arsenal.
It has been reported that fee is around £19.3 million for the German shot-stopper. He has been a top performer and regular number one goalkeeper with Leverkusen in the Bundesliga for the past seven years.
Wilshere made his senior debut for the club in 2008 and went on to amass nearly 200 appearances in all competitions for Arsenal.
I think the history of the club, the fans, the quality of the club and of the team is so good. From making my debut at such a young age, to playing in the Champions League and of course winning two FA Cups in consecutive seasons, there are just too many highlights to mention.More news: Saudi-led forces battle Shiite rebels south of key Yemen port
'For me, it's the same story now'. In Germany, Arsenal are so famous and when I heard it, I was a little bit nervous but at that moment it was clear for me: I wanted to sign for Arsenal.
The Gunners have already completed a deal to sign Stephan Lichtsteiner from Juventus and are thought to be close to signing Borussia Dortmund defender Sokratis Papastathopoulos, with Emery having identified the Arsenal defence as a point of weakness.
Emery's backroom staff will feature Juan Carlos Carcedo as first team assistant head coach, while the first team assistant head coach will be Steve Bould - who has been retained after working as former manager Arsene Wenger's No2.