Non-public fairness agency Everstone Capital is bringing collectively India’s Wingify — an organization that helps companies take a look at totally different variations of their web sites to enhance gross sales and buyer engagement — and France’s AB Tasty to construct an over $100 million a digital expertise optimization firm with greater than $100 million in annual income, only a 12 months after it purchased a controlling stake in Wingify for $200 million.
The mixed enterprise will serve greater than 4,000 prospects globally and generate greater than $100 million in annual income, with about 90% coming from the U.S. and Europe and groups spanning North America, Latin America, Europe, and the Asia-Pacific area, the businesses mentioned on Tuesday. Wingify co-founder Sparsh Gupta will lead the merged entity as CEO, whereas Everstone will stay the biggest institutional shareholder.
The deal comes as digital expertise instruments, together with these for A/B testing and personalization, are more and more consolidating, as enterprises look to deploy AI throughout advertising, product and progress groups with out stitching collectively a number of distributors. The merged firm will make investments extra closely in AI-led capabilities over time, whereas retaining buyer expertise unchanged within the close to time period and increasing the depth of its platform step by step, Gupta mentioned in an interview.
Everstone is injecting vital further capital as a part of the transaction, Gupta instructed TechCrunch, describing it as primarily aimed toward “cleansing up” AB Tasty’s cap desk and enabling the 2 companies to return collectively beneath one platform. Monetary phrases weren’t disclosed, although Gupta indicated the deal features a money part alongside some fairness rollover for current management, permitting them to keep up possession stakes within the new entity.
Gupta framed the tie-up as a pure convergence between two long-time rivals. “Each the companies have been working as pleasant competitors,” he mentioned, including that the merger displays rising demand from enterprises for extra built-in, holistic digital expertise platforms.
The mixed entity can be led by an government group drawn from each organizations. Alongside Gupta as CEO, Wingify co-founder Ankit Jain will function Chief Product and Expertise Officer, whereas AB Tasty’s co-founders will tackle senior roles: Rémi Aubert will turn out to be Chief Buyer and Technique Officer and Alix de Sagazan will function Chief Income Officer, the businesses mentioned.
Each Wingify and AB Tasty are worthwhile, Gupta mentioned, and the merger is targeted on constructing out the mixed platform somewhat than cost-cutting. “There’s no layoffs which can be deliberate as a part of this merger,” he added, describing the rationale as “worth creation at this time limit.”
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The mixed firm could have near 800 workers throughout 11 places of work globally, with roughly 350 workers based mostly exterior India, Gupta mentioned, including that the merged entity can be headquartered in New Delhi.
Co-founded in 2010 by Paras Chopra and Gupta, Wingify remained bootstrapped for greater than a decade, with VWO turning into its flagship product, serving to companies enhance on-line conversion charges by A/B testing and buyer expertise optimization. Everstone acquired a majority stake within the startup in January 2025, which additionally marked a big exit for Chopra, as TechCrunch reported earlier. That deal set the stage for Everstone’s platform-building technique that has now led to the AB Tasty mixture.
Wingify counts greater than 3,000 manufacturers as prospects, together with Forbes, Walt Disney, Amway, Hilton Holidays, TAP Portugal, and Cigna, throughout sectors comparable to e-commerce, SaaS, journey and media.
Based in 2014 and headquartered in Paris, AB Tasty offers experimentation and personalization software program utilized by greater than 1,000 manufacturers, together with L’Oréal and Samsonite.
The mixed firm will compete in the identical class as gamers comparable to Optimizely and Adobe, giving Singapore-headquartered Everstone and Wingify a bigger footprint in Europe whereas deepening the merged platform’s product suite throughout testing, characteristic supply, and AI-led personalization, topic to customary closing situations and approvals.
The deal provides to a rising wave of consolidation in advertising and product software program, as non-public fairness corporations and strategic patrons look to assemble scaled, AI-ready platforms serving international enterprise prospects. A current PitchBook report reveals enterprise SaaS M&A surged to 270 deals in Q3 worth $65 billion, with deal volumes up 26.2% quarter-over-quarter, and personal fairness accounting for 66.7% of offers. Extra broadly, PwC final 12 months flagged [PDF] consolidation as a key value-creation technique for personal fairness corporations, and EY highlighted sustained private equity-led momentum in tech M&A in 2024 as patrons pursue platform scale and AI capabilities.
Gupta instructed TechCrunch that Everstone will retain majority management of the mixed enterprise and maintain majority board rights following the transaction. The board could have 5 to 6 seats in complete, together with illustration from Everstone and Gupta, alongside three to 4 impartial administrators, he added.
Everstone mentioned it should again the mixed firm with further assist, together with an advisory board of trade consultants and operators. “Collectively, VWO and AB Tasty could have among the many most complete product choices within the class,” mentioned Sandeep Singh, managing director at Everstone Capital.
