Private equity firm Everstone Capital has merged its India-based company Wingify with France's AB Tasty. The deal creates a digital experience optimization platform with more than $100 million in annual revenue. It serves over 4,000 customers around the world. The announcement came on Tuesday.
Background
Wingify started in India and makes software that helps businesses test different versions of their websites and apps. This testing finds out what works best to boost sales and keep users engaged. Its main product is VWO. Everstone Capital bought about 80% of Wingify in January 2025 for around $200 million in cash. That was one of the biggest cash deals in enterprise software at the time. Wingify's co-founder Paras Chopra and his father sold most of their stakes in that sale.
Sparsh Gupta, who co-founded Wingify, took over as CEO after the buyout. Under Everstone, Wingify grew fast. It reported about $50 million in annual recurring revenue around the time of the acquisition. The company also bought Blitzllama, a startup from Y Combinator, in December. That added more tools for user research and feedback.
AB Tasty, based in Paris, does similar work. It helps companies run tests on websites and apps, personalize content, and analyze user behavior. The firm has served big names like Forbes, Walt Disney, L'Oréal, and Samsonite. It ranks high in the global website optimization market, fourth out of over 500 companies by some data trackers. AB Tasty had investors like Credit Mutuel Equity and Partech Partners before this deal.
Everstone saw a chance to join these two similar-sized companies. Both were profitable and competed in the same space for years. Wingify focused more on small and medium businesses before shifting to bigger enterprise clients. AB Tasty brought strong ties in Europe and the US. Together, they cover e-commerce, media, travel, and software sectors.
Key Details
The merged company will have over 800 employees in 11 offices across North America, Latin America, Europe, and Asia-Pacific. India holds a bit more than half the staff, around 350 outside the country. Headquarters will stay in New Delhi. About 90% of revenue comes from the US and Europe.
Sparsh Gupta will lead as CEO. Ankit Jain, Wingify's co-founder and former CTO, becomes chief product and technology officer. From AB Tasty, co-founder Rémi Aubert takes chief customer and strategy officer. Co-founder Alix de Sagazan becomes chief revenue officer. They give up board seats but keep some voting rights.
Deal Structure
Everstone put in significant new cash. The money mainly buys out most of AB Tasty's earlier investors to simplify ownership. Gupta called it cleaning up the cap table. The deal mixes cash and some equity that leaders roll over, so they stay owners. Everstone keeps majority control and the largest board seats, with five or six total. That includes spots for Everstone, Gupta, and independents.
No layoffs are planned. The focus is growth, not cuts. Both companies were already making money. The combined annual recurring revenue tops $100 million. Some reports put the whole entity at $400-500 million in value.
"We see the combined strength of both businesses and believe the joint synergies and vision are far stronger than what we were doing individually." – Sparsh Gupta, CEO
The deal needs standard approvals before it closes.
What This Means
The new platform combines testing, personalization, analytics, and adaptation tools for the full customer journey. Customers get one system instead of separate ones. This fits what big companies want: simple ways to improve digital experiences.
A big push will go to artificial intelligence over the next year. AI will make the tools easier to use and deploy. It aims to deliver results without complex setups. The company will compete with players like Bloomreach, Optimizely, and Adobe in the enterprise market.
Everstone plans an advisory board with industry experts. This builds on their strategy of merging companies across regions to lead markets. The firm stays the top shareholder without needing more growth capital right now.
For customers, it means broader reach. Over 4,000 brands now have access to stronger tech from both sides. Wingify gains AB Tasty's enterprise sales edge. AB Tasty taps Wingify's India base and recent buys. Staff from both keep jobs while the team builds out AI features.
This merger shows private equity firms chasing scale in tech. They combine assets to handle AI demands and bigger clients. It follows trends of Indian SaaS firms bulking up, sometimes for public listings later. The platform stands as one of the largest independent ones globally.
