Wingify, owned by Everstone, will acquire AB Tasty and become a $500 million SaaS company

Everstone-Backed Wingify Acquires France’s AB Tasty in $150–200 Million Deal

Everstone-owned enterprise software firm Wingify has acquired Paris-based rival AB Tasty for an estimated $150–200 million, according to people familiar with the matter. The transaction values the combined entity at around $500 million.

Wingify, best known for its flagship product VWO, and AB Tasty both provide software used by product, marketing, and growth teams to optimise websites and mobile applications through experimentation and user testing. As part of the deal, private equity firm Everstone Capital will buy out stakes held by certain AB Tasty shareholders and emerge as the majority owner of the combined company. Financial details of the transaction were not officially disclosed.

Earlier this year, Everstone acquired about 80% of Wingify for $200 million, one of the largest cash buyouts in India’s enterprise software sector. Following that deal, Wingify founder Paras Chopra sold most of his stake and exited the company.

Once the acquisition is completed, Wingify cofounder and CEO Sparsh Gupta will lead the merged entity. Ankit Jain, Wingify’s CTO, will take on the role of chief product and technology officer. AB Tasty cofounders Alix de Sagazan and Rémi Aubert will join the leadership team as chief revenue officer and chief customer and strategy officer, respectively.

“Both businesses are fairly scaled, have been operating for over a decade, and are profitable,” Gupta told The Economic Times. “This transaction is not about filling gaps but about leveraging the combined strengths and synergies of both companies.”

Gupta added that the business does not require primary capital for growth, noting that Everstone’s investment is largely aimed at consolidating ownership and simplifying the capital structure while becoming the largest shareholder.

The combined entity will have more than 800 employees across 11 global offices, with India accounting for over half of the workforce. Nearly 90% of revenue will come from the US and Europe, Gupta said. Wingify and AB Tasty are of comparable scale, with Wingify reporting annual recurring revenue of about $50 million in early 2024.

Looking ahead, the company plans to build a single integrated platform covering experimentation, personalisation, analytics, and customer lifecycle optimisation. Artificial intelligence will be a major focus over the next 12 months to simplify platform deployment and usage.

The acquisition is expected to create one of the largest independent digital experience optimisation platforms globally, competing with enterprise players such as Optimizely, Bloomreach, and Adobe.

“This investment continues Everstone’s strategy of combining deep domain expertise with cross-geography perspectives to build market leaders,” said Sandeep Singh, managing director at Everstone Capital. He added that Everstone will support the company through an advisory board comprising industry experts.

The deal is subject to regulatory and customary approvals.