MediaCom acquires stake in Rapid Media Services
WPP’s MediaCom, part of its leading global media investment management arm GroupM, has acquired a minority stake in Rapid Media Services Pty Ltd, a media communications agency in Australia with offices in Melbourne, Brisbane and the Gold Coast.
Founded in 2001 as part of full service advertising and communications agency, Rapid Media, Rapid Media Services specialises in media planning, strategy and buying across all traditional, digital and emerging channels.
Rapid Media Services has been affiliated with MediaCom in Australia since 2001. The company will continue to operate as an independent and stand-alone business led by Managing Director Vaughan O’Connor.
This acquisition marks a further step towards WPP’s declared goal of developing its networks in fast-growth markets and sectors. In Australia and New Zealand, WPP companies (including associates) generated revenues of USD 1.2 billion in 2014, and employ 4,000 people. In the Asia Pacific region, WPP companies (including associates) generate revenues of USD 5 billion and employ around 50,000 people.
