Hi-Rez has teamed up with publisher Level Up to release the MOBA in Central and South America. There are no dates for this release as of yet, but the beta will begin in that region later this year after the localization has been completed. Players from those countries who have accounts on a NA or EU server will be allowed to transfer to Level Up servers at that time.
Teams from Latin America and Brazil have been invited to participate in the SMITE World Championship in January 2015.
[Thanks to Soren for the tip!]