Private equity firm Everstone Capital is combining India’s Wingify with France-based AB Tasty to build a digital experience optimization company valued at over $100 million, with annual revenue surpassing $100 million, just a year after it acquired a controlling stake in Wingify for $200 million. Wingify helps businesses test and optimise different versions of their websites to improve sales performance and customer engagement.
Following the merger, the combined entity will serve more than 4,000 customers worldwide and generate over $100 million in annual revenue, with nearly 90% of revenue originating from the U.S. and Europe. In addition, teams will operate across North America, Latin America, Europe, and the Asia-Pacific region, the companies said on Tuesday. Wingify co-founder Sparsh Gupta will lead the merged organisation as CEO, while Everstone will continue as the largest institutional shareholder.
The transaction comes amid accelerating consolidation in digital experience and optimisation tools, including A/B testing and personalisation platforms. Increasingly, enterprises want to deploy AI across marketing, product, and growth functions without relying on multiple disconnected vendors. Against this backdrop, the merged company plans to invest more aggressively in AI-led capabilities over time while keeping the customer experience stable in the near term and gradually expanding platform depth, Gupta said in an interview.
As part of the deal, Everstone is injecting significant additional capital, and Gupta said the funding primarily aims to “clean up” AB Tasty’s cap table and enable both companies to integrate under a single platform.
Although the firms did not disclose financial terms, Gupta indicated that the transaction includes a cash component along with equity rollover for existing leadership, allowing them to retain ownership stakes in the new entity.
Gupta described the merger as a natural alignment between two long-standing competitors. “Both the businesses have been operating as friendly competition,” he said, adding that the consolidation reflects growing enterprise demand for holistic digital experience platforms.
The combined company will operate under a joint executive leadership structure. Alongside Gupta as CEO, Wingify co-founder Ankit Jain will serve as Chief Product and Technology Officer. Meanwhile, AB Tasty’s co-founders will assume senior roles, with Rémi Aubert becoming Chief Customer and Strategy Officer and Alix de Sagazan taking on the role of Chief Revenue Officer, the companies said.
Importantly, both Wingify and AB Tasty remain profitable, Gupta noted, and the merger prioritises platform expansion rather than cost reduction. “There are no layoffs that are planned as part of this merger,” he added, describing the strategy as “value creation at this point in time.” The combined organisation will employ nearly 800 people across 11 global offices, with around 350 employees located outside India. The merged entity will be headquartered in New Delhi, Gupta said.
Co-founded in 2010 by Paras Chopra and Sparsh Gupta, Wingify operated as a bootstrapped company for over a decade, with VWO emerging as its flagship product. VWO helps businesses improve online conversion rates through A/B testing and customer experience optimisation. Everstone acquired a majority stake in Wingify in January 2025, marking a significant exit for Chopra, as TechCrunch previously reported. That transaction laid the groundwork for Everstone’s platform-building strategy, culminating in the AB Tasty combination.
Today, Wingify serves more than 3,000 brands, including Forbes, Walt Disney, Amway, Hilton Vacations, TAP Portugal, and Cigna, across industries such as e-commerce, SaaS, travel, and media. Meanwhile, AB Tasty, founded in 2014 and headquartered in Paris, provides experimentation and personalisation software to over 1,000 brands, including L’Oréal and Samsonite.
Following the merger, the combined company will compete directly with platforms such as Optimizely and Adobe, while expanding Everstone and Wingify’s footprint in Europe and deepening the platform’s capabilities across testing, feature delivery, and AI-driven personalisation, subject to customary regulatory approvals and closing conditions.
More broadly, the transaction reflects a wider wave of consolidation in marketing and product software. Private equity firms and strategic buyers increasingly aim to assemble scaled, AI-ready enterprise platforms. A recent PitchBook report showed that enterprise SaaS M&A reached 270 deals worth $65 billion in Q3, with deal volumes rising 26.2% quarter-over-quarter and private equity accounting for 66.7% of transactions. Additionally, PwC previously identified consolidation as a key value-creation lever for private equity, while EY highlighted sustained PE-led momentum in tech M&A during 2024.
Gupta also confirmed that Everstone will retain majority control of the merged business and hold majority board rights following the transaction. The board will include five to six members, with representation from Everstone and Gupta, alongside three to four independent directors.
Everstone further stated that it will support the combined entity through strategic guidance and an advisory board of industry experts and operators. “Together, VWO and AB Tasty will have among the most comprehensive product offerings in the category,” said Sandeep Singh, Managing Director at Everstone Capital.
By bringing together Wingify and AB Tasty, Everstone Capital is creating a scaled, profitable, and AI-ready digital experience optimisation platform with a strong global footprint.
