Private equity firm Everstone Capital is bringing together India’s Wingify — a company that helps businesses test different versions of their websites to improve sales and customer engagement — and France’s AB Tasty to build an over $100 million a digital experience optimization company with more than $100 million in annual revenue, just a year after it bought a controlling stake in Wingify for $200 million.
The combined business will serve more than 4,000 customers globally and generate more than $100 million in annual revenue, with about 90% coming from the U.S. and Europe and teams spanning North America, Latin America, Europe, and the Asia-Pacific region, the companies said on Tuesday. Wingify co-founder Sparsh Gupta will lead the merged entity 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 consolidating, as enterprises look to deploy AI across marketing, product and growth teams without stitching together multiple vendors. The merged company will invest more heavily in AI-led capabilities over time, while keeping customer experience unchanged in the near term and expanding the depth of its platform gradually, 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 cap table and enabling the two businesses to come together under one platform. Financial terms were not disclosed, though Gupta indicated the deal includes a cash component alongside some equity rollover for existing leadership, allowing them to maintain ownership stakes in the new entity.
Gupta framed the tie-up as a natural convergence between two long-time rivals. “Both the businesses have been operating as friendly competition,” he said, adding that the merger reflects growing demand from enterprises for more integrated, holistic digital experience platforms.
The combined entity will be led by an executive team drawn from both organizations. Alongside 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 out the combined platform rather than cost-cutting. “There’s no layoffs that are planned as part of this merger,” he added, describing the rationale as “value creation at this point in time.”
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The combined company will have close to 800 employees across 11 offices globally, with roughly 350 staff based outside India, Gupta said, adding that the merged entity will be headquartered in New Delhi.
Co-founded in 2010 by Paras Chopra and Gupta, Wingify 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 significant exit for Chopra, as TechCrunch reported earlier. That deal set the stage for Everstone’s platform-building strategy that has now led to the AB Tasty combination.
Wingify counts more than 3,000 brands as customers, including Forbes, Walt Disney, Amway, Hilton Vacations, TAP Portugal, and Cigna, across sectors such as e-commerce, SaaS, travel and media.
Founded in 2014 and headquartered 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-headquartered Everstone and Wingify a larger footprint in Europe while deepening the merged platform’s product suite across testing, feature delivery, and AI-led 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 look to assemble scaled, AI-ready platforms serving global enterprise customers. A recent PitchBook report shows enterprise SaaS M&A surged to 270 deals in Q3 worth $65 billion, with deal volumes up 26.2% quarter-over-quarter, and private equity accounting for 66.7% of deals. More broadly, PwC last year flagged [PDF] consolidation as a key value-creation strategy for private equity firms, and EY highlighted sustained private equity-led momentum in tech 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 following the transaction. The board will have five to six seats in total, including representation from Everstone and Gupta, alongside three to four independent directors, he added.
Everstone said it will back the combined company with additional support, including an advisory board of industry experts and operators. “Together, VWO and AB Tasty will have among the most comprehensive product offerings in the category,” said Sandeep Singh, managing director at Everstone Capital.
