Cisneros Group‘s digital advertising unit RedMas has acquired Kontextua, the Venezuelan media and telecommunications giant announced today. According to Miami-based RedMas, Kontextua’s existing network in Latin America and Spain will help the group extend its international reach.

Kontextua was founded 2 years ago with the ambition to sell unexploited online advertising real estate, which it identifies through its context scanning technology. The Argentine company currently boasts more than 12,000 Spanish- and Portuguese-language affiliated sites, reaching over 60 million unique viewers.

Following the acquisition, RedMas also plans to invest $2 million in Kontextua to develop new digital advertising platforms and expand its presence in Chile, Mexico, Brazil, Colombia, and in the US Hispanic market. As for Kontextua’s founders, German Herebia and Carlos Cordoba, they will join the Cisneros Group’s digital management team.

Cisneros Group’s goal with this acquisition is two-fold, Chief Digital Officer Victor Kong explains:

miss venezuela via getty images 220x135 Cisneros Groups ad unit buys Kontextua to expand in the US and Latin America“The acquisition will not only contribute revenue to the Cisneros Group’s other sites, such as venevision.com, noticierovenevision.com, and missvenezuela.com, but it will also complement its business strategy of focusing on digital advertising, e-commerce, and social gaming,” he says.

Online advertising is a fast-growing segment in the region. ”Latin America’s $2.5 billion digital advertising market is growing at an accelerated rate of 15 to 20% annually. With Internet penetration at only 35% in the region, this market holds vast potential for RedMas,” Kong adds.

Image credits: (1) Kevork Djansezian / Getty Images; (2) JUAN BARRETO / AFP / Getty Images