Eternal to pick 4.4% stake in Mygate following divestment of digital ad business
Through a share-swap agreement, Eternal divests its interest in AdOnMo (a cloud-connected digital screen network operating across 27 Indian cities) and acquires equity in Mygate (a community management platform). AdOnMo founders will join Mygate's board, and the combined entity will integrate digital screen infrastructure with Mygate's community platform serving 30,000 residential communities.
Key points
- Eternal acquires 4.4% stake in Mygate via AdOnMo divestment
- AdOnMo founders joining Mygate as co-founders
- Combines 55,000 digital screens with community management platform
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