Saraf and Partners, Anoma Legal, Kaizen Law act on AdOnMo - Mygate merger

Digital advertising platform AdOnMo is set to merge with community management platform Mygate in a proposed merger, with the combined entity being valued at approximately ₹3,500 crore.

The proposed all-stock merger is preceded by a share swap, pursuant to which Eternal Limited (formerly, Zomato Limited), the largest investor in AdOnMo, and certain other investors of AdOnMo will transfer their shareholding in AdOnMo to Mygate in consideration for an equity stake in Mygate.

Eternal, AdOnMo, Mygate and the relevant shareholders and parties have entered into definitive agreements for the transaction.

Saraf and Partners acted for and advised Eternal on all aspects of the transaction.

The transaction was led by Vaibhav Kakkar (Senior Partner), Sahil Arora (Partner) and Keshav Pareek (Partner), with support from Associates Samiksha Bhargava and Devansh Sehgal.

Anoma Legal acted as legal advisor to Mygate and its founders, while Kaizen Law acted as legal advisor to AdOnMo and its founders.

Mygate provides visitor management, security, finance and accounting, and community engagement solutions across 30,000 residential communities serving over six million households, while AdOnMo operates over 55,000 cloud-connected screens across 27 cities.

The proposed consolidation will provide RWAs with community management tools and digital infrastructure for resident communications and monetisation of common areas.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.