The Gunners completed the signing of Laurent Koscielny from Lorient earlier this week.
Wenger is looking to strengthen his defence as William Gallas, Mikael Silvestre and Sol Campbell are all out of contract.
“Koscielny can be an outstanding addition to our team, but it is not over, we are still open to buy,” Wenger told the club’s official website.
“We are still in the market for another defensive player because we have the need for one more.”