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MediaCom acquires minority stake in Australian media agency firm

MUMBAI: MediaCom has acquired a minority stake in Rapid Media Services, 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 specialises in media planning, strategy and buying across all traditional, digital and emerging channels.

Its services have been affiliated with MediaCom in Australia since 2001. The company will continue to operate as an independent and stand-alone business led by the MD Vaughan O’Connor.

This acquisition marks a further step towards WPP’s goal of developing its networks in fast-growth markets and sectors.

In Australia and New Zealand, WPP companies (including associates) generated revenues of $1.2 billion in 2014, and employ 4,000 people. In the Asia Pacific region, WPP companies (including associates) generate revenues of $5 billion and employ around 50,000 people.