Due to bureaucratic problems the relevant paperwork failed to be delivered before the deadline passed by 33 seconds, with both the Rosanero and the Galletti appealing the decision.
The appeal was heard on Tuesday and both clubs announced on their websites that the deal had been concluded.
“Palermo can announce the purchase of Joao Silva from Bari. The player moves to the club and has signed a three-year contract with the Rosanero,” was the official statement from Palermo.
The striker has made 43 appearances for the Serie B club scoring eight goals.