Private equity firm Everstone Capital is bringing together Indian companies Winvi — a company that helps companies test different versions of their websites to improve sales and customer engagement — and the France company Delicious father To build a $100M+ digital experience improvement company with $100M+ annual revenue, just one year after purchasing a controlling stake in Wingify for $200M.
The combined businesses will serve more than 4,000 customers globally and generate annual revenues of more than $100 million, about 90% of which comes from the U.S. and Europe and teams spanning North America, Latin America, Europe and the Asia-Pacific region, the companies said Tuesday. Wingify co-founder Sparsh Gupta will lead the combined entity as CEO, while Everstone will remain the largest institutional shareholder.
The deal comes at a time when digital experience tools, including A/B testing and personalization tools, are increasingly being integrated, as companies look to deploy AI across marketing, product, and growth teams without bringing together multiple vendors. The combined company will invest more in AI-led capabilities over time, keeping the customer experience unchanged in the near term and gradually expanding the depth of its platform, Gupta said in an interview.
Gupta told TechCrunch that Everstone is injecting significant additional capital as part of the deal, describing it as primarily intended to “clean up” AB Tasty’s cap table and enable the two companies to work together under a single platform. Financial terms were not disclosed, although Gupta noted that the deal includes a cash component along with some share replenishment for existing leadership, allowing them to maintain ownership stakes in the new entity.
Gupta framed the relationship as a natural rapprochement between two long-time rivals. “Both companies have been operating as friendly competitors,” he said, adding that the merger reflects growing demand from companies for more integrated and comprehensive digital experience platforms.
The combined entity will be led by an executive team from both organizations. Along with Gupta as CEO, Ankit Jain, co-founder of Wingify, will serve as chief product and technology officer, while AB Tasty’s founders will take on senior roles: Remy Aubert will become chief customer and strategy officer and Alex de Sagazan will serve as chief revenue officer, the companies said.
Both Wingify and AB Tasty are profitable, and the merger focuses on building out the combined platform rather than cutting costs, Gupta said. “There are no plans for layoffs 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 approximately 800 employees in 11 offices around the world, with approximately 350 employees outside India, Gupta said, adding that the headquarters of the combined entity will be in New Delhi.
Founded in 2010 by Paras Chopra and Gupta, Wingify has been in operation for over a decade, with VWO becoming its flagship product, helping businesses improve online conversion rates through A/B testing and improving customer experience. Everstone took a majority stake in the startup in January 2025, which also marked a significant exit for Chopra, as TechCrunch previously reported. This deal paved the way for the Everstone platform building strategy that has now led to the AB Tasty Group.
Wingify counts more than 3,000 brands as clients, 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 try-on and personalization software used by more than 1,000 brands, including L’Oréal and Samsonite.
The combined company will compete in the same category with players such as Optimizely and Adobe, giving Singapore-based Everstone and Wingify a larger footprint in Europe while deepening the combined platform’s product portfolio across AI-led testing, feature delivery and personalization, subject to customary closing conditions and approvals.
This deal adds to a growing wave of mergers in the marketing and product software space, as private equity firms and strategic buyers look to put together broad, AI-ready platforms that serve global enterprise clients. A recent PitchBook report shows that enterprise SaaS mergers and acquisitions are up 270 deals in the third quarter, worth $65 billionWith deal volume up 26.2% quarter-on-quarter, private equity accounts for 66.7% of deals. More broadly, PricewaterhouseCoopers last year It has been marked [PDF] Consolidation is a key value-creating strategy for private equity firms, as highlighted by EY Private equity-led momentum in technology M&A continues in 2024 as buyers pursue the platform’s scale and AI capabilities.
Everstone will retain majority control of the combined business and will retain majority rights on the board after the deal, Gupta told TechCrunch. He added that the board will have five to six seats in total, including representation from Everstone and Gupta, along with three to four independent directors.
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 the most comprehensive product offerings in the category,” said Sandeep Singh, Managing Director at Everstone Capital.
