• Reuters, Thursday, May 30, 2013 1:37 PM

Mobile ad network Millennial Media has its eyes on Latin American countries for potential acquisitions, according to Reuters. Paul Palmieri, chief executive of Millennial Media, told Reuters that the company has eyes on Argentina, Brazil, and Mexico.

"Mexico and Brazil each have such a substantial number of smartphones that it's absolutely exploding down there. And the percentage of smartphone penetration in Argentina is hot," Palmieri told Reuters.

"Exchange capability" will also be added to Millennial's ad platform "over the next few quarters," wrote Reuters.

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