Private equity firm Everstone Capital is merging India’s Wingify with France’s ABTasty to create a new digital experience optimization company. The combined entity will have over $100 million in annual revenue and a valuation exceeding $100 million. This move comes just a year after Everstone acquired a controlling stake in Wingify for $200 million.
The merged business will serve more than 4,000 customers globally. Approximately 90 percent of its revenue comes from the United States and Europe. The company will have teams across North America, Latin America, Europe, and the Asia-Pacific region. Wingify co-founder Sparsh Gupta will lead the merged entity as its CEO, while Everstone will remain the largest institutional shareholder.
This deal reflects a trend of consolidation in digital experience tools, such as those for A/B testing and personalization. Enterprises are increasingly seeking integrated platforms to deploy AI across marketing, product, and growth teams without managing multiple vendors. The new company plans to invest more heavily in AI-led capabilities over time, while keeping the customer experience unchanged in the near term and gradually expanding its platform.
Everstone is injecting significant additional capital as part of the transaction. This capital is primarily aimed at simplifying ABTasty’s ownership structure and enabling the two businesses to unite under one platform. The financial terms were not disclosed, but the deal includes a cash component alongside some equity rollover for existing leadership, allowing them to maintain ownership stakes.
Gupta described the merger as a natural convergence between two long-time rivals. He noted that both businesses have operated as friendly competition and stated the merger meets growing enterprise demand for more holistic digital experience platforms.
The combined company’s executive team will include leaders from both organizations. Wingify co-founder Ankit Jain will serve as chief product and technology officer. ABTasty’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.
Both Wingify and ABTasty are profitable. The merger is focused on building out the combined platform rather than cost-cutting, and no layoffs are planned as part of the transaction. The rationale is centered on value creation.
The combined company will have close to 800 employees across 11 offices globally, with roughly 350 staff based outside of India. The merged entity will be headquartered in New Delhi.
Wingify was co-founded in 2010 by Paras Chopra and Sparsh Gupta and remained bootstrapped for over a decade. Its flagship product, VWO, helps businesses improve online conversion rates. Everstone’s majority stake acquisition in January 2025 set the stage for this platform-building strategy. Wingify counts more than 3,000 brands as customers, including Forbes, Walt Disney, and Hilton Vacations.
ABTasty was founded in 2014 and is headquartered in Paris. It provides experimentation and personalization software used by more than 1,000 brands, including L’Oréal and Samsonite.
The combined company will compete with players like Optimizely and Adobe. It gives Everstone and Wingify a larger footprint in Europe while deepening the product suite across testing, feature delivery, and AI-led personalization. The transaction is subject to customary closing conditions and approvals.
This deal adds to a growing wave of consolidation in marketing and product software. Private equity firms and strategic buyers are looking to assemble scaled, AI-ready platforms for global enterprise customers. Recent industry reports highlight a surge in enterprise SaaS mergers and acquisitions, with private equity accounting for a majority of deals. Consolidation is noted as a key value-creation strategy for private equity firms in the technology sector.
Everstone will retain majority control of the combined business and hold majority board rights following the transaction. The board will have five to six seats in total, including representation from Everstone and Sparsh Gupta, alongside three to four independent directors.
Everstone stated it will back the combined company with additional support, including an advisory board of industry experts. Together, VWO and ABTasty will have one of the most comprehensive product offerings in the digital experience optimization category.