Private equity firm Everstone Capital has announced a significant strategic move, merging India-based digital experience optimization leader Wingify with France's AB Tasty. This consolidation aims to create a formidable global platform in the digital experience optimization (DXO) space, projected to generate over $100 million in annual revenue and serve more than 4,000 customers worldwide. The merger, coming just a year after Everstone acquired a controlling stake in Wingify for $200 million, underscores a growing trend of consolidation in the enterprise software market.
The newly combined entity will boast a global footprint, with approximately 90% of its revenue stemming from the U.S. and Europe. Its operational teams will span North America, Latin America, Europe, and the Asia-Pacific region. Sparsh Gupta, co-founder of Wingify, will take the helm as CEO of the merged business, while Everstone Capital will remain its largest institutional shareholder.
This strategic merger reflects the increasing demand from enterprises for integrated digital experience tools, particularly as businesses seek to deploy AI across their marketing, product, and growth teams without managing multiple vendors. Gupta stated in an interview that the combined company plans to significantly increase investment in AI-led capabilities over time. While the platform's depth will expand gradually, the immediate focus is on maintaining a seamless customer experience.
As part of the transaction, Everstone is injecting substantial additional capital. Gupta explained that this capital infusion is primarily intended to streamline AB Tasty's cap table and facilitate the seamless integration of both businesses onto a single platform. While specific financial terms were not disclosed, Gupta indicated the deal includes a cash component alongside an equity rollover for existing leadership, allowing them to retain ownership stakes in the new entity.
Gupta characterized the tie-up as a natural convergence between two long-standing competitors, noting that both businesses have operated in "friendly competition." He added that the merger directly addresses the growing enterprise need for more integrated, holistic digital experience platforms. The executive leadership team will be drawn from both organizations: Wingify co-founder Ankit Jain will serve as Chief Product and Technology Officer, while AB Tasty co-founders Rémi Aubert and Alix de Sagazan will assume senior roles as Chief Customer and Strategy Officer and Chief Revenue Officer, respectively.
Co-founded in 2010 by Paras Chopra and Gupta, Wingify remained bootstrapped for more than a decade. Its flagship product, VWO, has been instrumental in helping businesses improve online conversion rates through A/B testing and customer experience optimization. Everstone's acquisition of a majority stake in Wingify in January 2025 marked a significant exit for Chopra and laid the groundwork for Everstone's platform-building strategy. Wingify currently serves more than 3,000 brands, including Forbes, Walt Disney, and Hilton Vacations. Founded in Paris in 2014, AB Tasty provides experimentation and personalization software to over 1,000 brands, such as L'Oréal and Samsonite.
The combined company will compete in the same league as industry giants like Optimizely and Adobe. This merger significantly expands Singapore-headquartered Everstone and Wingify's footprint in Europe while deepening the merged platform's product suite across testing, feature delivery, and AI-led personalization, pending customary closing conditions and approvals. Both Wingify and AB Tasty are profitable, and Gupta emphasized that the merger is focused on value creation through platform expansion, not cost-cutting or layoffs.
This deal aligns with a broader wave of consolidation sweeping through the marketing and product software sectors. Private equity firms and strategic buyers are actively assembling scaled, AI-ready platforms to serve global enterprise customers. Recent reports highlight this trend: PitchBook noted a surge in enterprise SaaS M&A to 270 deals in Q3 worth $65 billion, with private equity accounting for 66.7% of these transactions. PwC and EY have also flagged consolidation and sustained private equity-led momentum in tech M&A as key strategies for value creation and achieving platform scale in the tech M&A landscape.
Everstone will maintain majority control of the combined business and hold majority board rights post-transaction. The board will comprise five to six seats, including representation from Everstone and Gupta, alongside three to four independent directors. Everstone has pledged additional support, including an advisory board of industry experts. Sandeep Singh, Managing Director at Everstone Capital, affirmed, "Together, VWO and AB Tasty will have among the most comprehensive product offerings in the category."
