The order is worth some SEK 39.3 billion, according to a Saab press release.
In December of 2013, Brazil decided that the Gripen NGs would become the country's new fighter aircraft, and negotiations followed, culminating in today's agreement.
The first deliveries are scheduled for 2019 and will continue until 2024, according to Swedish Radio News.
Brazil's defense ministry and Saab have also signed a contract for "Industrial Co-operation" to "deliver substantial technology transfer from Saab to Brazilian industry."
In order for the transaction to go through, Saab will need to get the necessary export authoriziations, and the company expects to have met all the requirements by the first half of 2015, according to TT.