MediaCom invests in Australian media agency

AUSTRALIA — WPP has announced that MediaCom, part of its media investment management arm GroupM, has acquired a minority stake in Australian media agency Rapid Media Services.

Rapid Media Services was founded in 2001 as part of Rapid Media, a full service advertising and communications agency. It has been affiliated with MediaCom in Australia since 2001 and will continue to operate as an independent and stand-alone business led by managing director Vaughan O’Connor (pictured).

Terms of the deal have not been disclosed.