At a Glance
- Everstone Capital merges India’s Wingify and France’s AB Tasty into a digital experience powerhouse
- Combined entity will exceed $100 million in annual revenue and serve 4,000+ customers globally
- No layoffs planned as profitable businesses unite under New Delhi headquarters
- Why it matters: Creates a rare India-France tech giant positioned to challenge Optimizely and Adobe in the global A/B testing market
Private equity firm Everstone Capital is combining two long-time rivals-India’s Wingify and France’s AB Tasty-into a consolidated digital experience optimization company expected to generate more than $100 million in annual revenue. The merger comes just one year after Everstone acquired a controlling stake in Wingify for $200 million.
The merged business will serve more than 4,000 customers worldwide, with approximately 90% of revenue originating from the U.S. and Europe. Teams will span North America, Latin America, Europe, and the Asia-Pacific region. Wingify co-founder Sparsh Gupta will lead the combined entity as CEO, while Everstone remains the largest institutional shareholder.
Strategic Consolidation in Digital Experience Tools
The deal reflects broader industry consolidation as enterprises seek integrated platforms for deploying AI across marketing, product, and growth functions without managing multiple vendors. The merged company plans to invest heavily in AI-led capabilities over time while maintaining current customer experience standards and gradually expanding platform depth.
Everstone is injecting significant additional capital, primarily to streamline AB Tasty’s cap table and facilitate platform unification. While financial terms remain undisclosed, Gupta indicated the deal includes both cash and equity rollover for existing leadership, enabling continued ownership stakes.
“Both the businesses have been operating as friendly competition,” Gupta said, framing the merger as a natural convergence driven by enterprise demand for holistic digital experience platforms.
Leadership Structure and Operations
The combined entity’s executive team draws from both organizations:
- Sparsh Gupta (Wingify co-founder) – CEO
- Ankit Jain (Wingify co-founder) – Chief Product and Technology Officer
- Rémi Aubert (AB Tasty co-founder) – Chief Customer and Strategy Officer
- Alix de Sagazan (AB Tasty co-founder) – Chief Revenue Officer
Both Wingify and AB Tasty operate profitably, with the merger focused on platform development rather than cost reduction. “There’s no layoffs that are planned as part of this merger,” Gupta confirmed, describing the rationale as “value creation at this point in time.”
The company will employ nearly 800 people across 11 offices globally, with roughly 350 staff based outside India. Headquarters will remain in New Delhi.
Company Backgrounds and Market Position
Founded in 2010 by Paras Chopra and Gupta, Wingify remained bootstrapped for over a decade. Its flagship product VWO helps businesses improve online conversion rates through A/B testing and customer experience optimization. Everstone’s majority stake acquisition in January 2025 marked a significant exit for Chopra and set the stage for this platform-building strategy.
Wingify serves more than 3,000 brands including Forbes, Walt Disney, Amway, Hilton Vacations, TAP Portugal, and Cigna across e-commerce, SaaS, travel, and media sectors.
AB Tasty, founded in 2014 and headquartered in Paris, provides experimentation and personalization software to more than 1,000 brands including L’Oréal and Samsonite.
The combined entity will compete directly with Optimizely and Adobe, expanding Everstone’s European footprint while deepening the platform’s capabilities across testing, feature delivery, and AI-led personalization.
Industry Consolidation Trends
The merger adds to accelerating consolidation in marketing and product software as private equity firms and strategic buyers assemble scaled, AI-ready platforms for global enterprise customers. Recent data shows enterprise SaaS M&A reached 270 deals worth $65 billion in Q3, with deal volumes up 26.2% quarter-over-quarter. Private equity accounted for 66.7% of these transactions.
Everstone will retain majority control and board rights post-transaction. The board will comprise five to six seats total, including Everstone representation, Gupta, and three to four independent directors.
“Together, VWO and AB Tasty will have among the most comprehensive product offerings in the category,” said Sandeep Singh, managing director at Everstone Capital. The firm will provide additional support through an advisory board of industry experts and operators.
Key Takeaways
- Scale creation: Rare India-France tech combination creates entity matching global leaders
- No disruption: Profitable businesses merge without layoffs or customer experience changes
- AI future: Combined resources enable accelerated investment in artificial intelligence capabilities
- Market timing: Deal capitalizes on enterprise demand for integrated platforms over point solutions
