Private equity firm Everstone Capital brings together the India company Wingify — a company that helps businesses test different versions of their websites to improve sales and customer loyalty — and France AB Tasty to create a more than $100 million digital experience optimization company with more than $100 million in annual revenue, just a year after buying a controlling stake in Wingify for $200 million.
The combined business will serve more than 4,000 customers worldwide and generate more than $100 million in annual revenue, with about 90 percent coming from the U.S. and Europe and teams from North America, Latin America, Europe and the Asia-Pacific region, the companies said Tuesday. Wingify co-founder Sparsh Gupta will lead the combined company as CEO, while Everstone will remain the largest institutional shareholder.
The deal comes as digital experience tools, including those for A/B testing and personalization, are increasingly unified as businesses try to deploy AI across marketing, product and development teams without tying together multiple vendors. The combined company will invest more in AI-driven capabilities over time, while keeping the customer experience unchanged in the short term and gradually expanding the depth of its platform, Gupta said in an interview.
Everstone is injecting significant additional capital as part of the transaction, Gupta told TechCrunch, describing it as primarily aimed at “cleaning up” AB Tasty’s capital slate and allowing the two businesses to come together under one platform. Financial terms were not disclosed, although Gupta said the deal includes a cash component along with some stock conversion for existing leadership, allowing them to retain ownership stakes in the new entity.
Gupta framed the tie as a natural convergence between two longtime rivals. “Both businesses operate as friendly competition,” he said, adding that the merger reflects growing demand from businesses for more integrated, holistic digital experience platforms.
The combined entity will be led by an executive team drawn from both organisations. Along with Gupta as CEO, Wingify co-founder Ankit Jain will serve as Chief Product and Technology Officer, while AB Tasty’s co-founders will take on senior roles: Rémi Aubert will become Chief Customer and Strategy Officer and Alix de Sagazan will serve as Chief Revenue Officer, the companies said.
Both Wingify and AB Tasty are profitable, Gupta said, and the merger is focused on building the combined platform rather than cutting costs. “There are no layoffs planned as part of this merger,” he added, describing the rationale as “value creation at this time.”
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The combined company will have nearly 800 employees in 11 offices worldwide, with about 350 employees based outside India, Gupta said, adding that the merged company will be headquartered in New Delhi.
Founded in 2010 by Paras Chopra and Gupta, Wingify has remained bootstrapped for more than a decade, with VWO becoming its flagship product, helping businesses improve online conversion rates through A/B testing and customer experience optimization. Everstone acquired a majority stake in the startup in January 2025, which also marked a major exit for Chopra, as TechCrunch previously reported. This deal laid the groundwork for Everstone’s platform building strategy that has now led to the AB Tasty combination.
Wingify counts more than 3,000 brands as clients, including Forbes, Walt Disney, Amway, Hilton Vacations, TAP Portugal and Cigna, in sectors including e-commerce, SaaS, travel and media.
Founded in 2014 and based in Paris, AB Tasty provides experimentation and personalization software used by more than 1,000 brands, including L’Oréal and Samsonite.
The combined company will compete in the same category as players such as Optimizely and Adobe, giving Singapore-based Everstone and Wingify a larger footprint in Europe, while deepening the merged platform’s product suite in testing, feature delivery and AI-based personalization, subject to customary closing conditions and approvals.
The deal adds to a growing wave of consolidation in marketing and product software as private equity firms and strategic buyers seek to assemble scalable, AI-ready platforms that serve global enterprise customers. A recent PitchBook report shows that enterprise SaaS mergers and acquisitions have increased 270 deals in the third quarter worth $65 billionwith trading volume up 26.2% quarter-over-quarter and private equity accounting for 66.7% of trading. More broadly, PwC last year flag [PDF] consolidation as a key value creation strategy for private equity firms, EY highlighted maintained private equity-led momentum in technology M&A in 2024 as buyers pursue platform scale and AI capabilities.
Gupta told TechCrunch that Everstone will retain majority control of the combined business and hold majority board rights after the transaction. The board will have five to six seats in total, including representation from Everstone and Gupta, along with three to four independent directors, he added.
Everstone said it will support the combined company with additional support, including an advisory board of industry experts and operators. “Together, VWO and AB Tasty will have one of the most comprehensive product offerings in the category,” said Sandeep Singh, managing director of Everstone Capital.
