Monaco reached the Champions League quarterfinals for the first time since 2004 despite a 2-0 loss at home to Arsenal on Tuesday night, advancing on away goals after a 3-3 aggregate tie in the home-and-home series.
Atletico Madrid, which lost last year's final to Real Madrid, defeated Bayer Leverkusen 3-2 on penalty kicks after the Spanish team won 1-0 on Mario Suarez's 27th-minute goal to leave the aggregate 1-1 after overtime.
After a 3-1 loss at home at first leg, the Gunners needed at least three goals to become the first team in the history of the Champions League to progress after losing an opening leg by two goals in their own stadium.
Olivier Giroud scored in the 36th minute and substitute Aaron Ramsey in the 79th, but Arsenal fell short.
"We've always gone out to Bayern Munich and Barcelona at this stage but, no disrespect to Monaco, we thought we'd have a good opportunity to qualify. But we gave ourselves a tough test from the first leg," Ramsey said. "It's nearly again, but it's not enough."
Arsenal was knocked out in the round of 16 for the fifth straight year.
"It's always difficult to turn a three-goal deficit around," said Gunners manager Arsene Wenger, who coached Monaco for seven years. "Tonight we did not seize all our chances, and we were made to pay for our first-leg inadequacies."
There are two French clubs in the last eight for the first time in five years. Monaco lost the 2004 final to Porto.
In Madrid, Raul Garcia opened the shootout by putting his attempt over the crossbar, and Atletico's Jan Oblak saved Hakan Calhanoglu's shot. Antoine Griezmann put the hosts ahead, Simon Rolfes tied it and Mario Suárez gave Atletico a 2-1 advantage.
Omer Toprak sent Leverkusen's third shot too high, Koke's try was saved by Bernd Leno and Gonzalo Castro tied it 2-all with Leverkusen's fourth shot. Fernando Torres put Atletico back in front, and Stefan Kiessling shot high, giving Atletico the win.
On Wednesday, Barcelona hosts Manchester City with a 2-1 lead and Juventus goes to Borussia Dortmund with a 2-1 advantage
Real Madrid, Bayern Munich and Porto also advanced last week. The quarterfinal draw is Friday.
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