The Gunners are looking to freshen up their squad in the summer in a bid to challenge Chelsea for the Premier League title.
And Arsene Wenger has set his sights on Pedro and Montoya as the men who can add star quality.
Pedro, who has won it all at the Nou Camp and with Spain, is keen on leaving this summer after falling down Luis Enrique's pecking order, while Montoya is also frustrated by lack of playing time.
Barcelona are still hoping to seal the treble this season and are unlikely to sanction any departures until their season is over.
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Arsenal are keen on Pedro
Arsenal also play tomorrow in the FA Cup final so are not rushing their business.
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