Private equity firm Everstone Capital just closed a major consolidation play in the digital optimization space, merging India's Wingify and France's AB Tasty into a single $100 million-plus revenue company. The move comes just one year after Everstone acquired a controlling stake in Wingify for $200 million, signaling an aggressive platform-building strategy aimed at competing head-to-head with players like Optimizely and Adobe.
The marriage between Wingify and AB Tasty represents something of a Silicon Valley paradox. Two rivals that have long operated in the same space - helping enterprises improve digital experiences through testing and personalization - are now joining forces under Everstone Capital's umbrella. It's a move that tells you a lot about where the market's heading and why pure-play startups are increasingly finding it hard to go alone.
Sparsh Gupta, Wingify's co-founder, will lead the combined entity as CEO. The new company will operate under both the Wingify VWO and AB Tasty brands initially, maintaining separate product lines before gradually consolidating the platform over time. Both businesses are profitable, a detail Gupta emphasized to underscore that this isn't a desperate fire sale but rather a calculated play to build something bigger.
"Both the businesses have been operating as friendly competition," Gupta told TechCrunch. The framing matters here - this is positioned as natural alignment rather than acquisition by necessity. The merger reflects what enterprises actually want: integrated, holistic platforms that don't require stitching together multiple vendors to cover testing, personalization, and feature delivery all in one place.
The numbers underscore the scale Everstone is assembling. The combined business will serve more than 4,000 customers globally, with roughly 90 percent of revenue coming from the US and Europe. We're talking about brands like Forbes, Walt Disney, Amway, L'Oréal, and Samsonite - enterprises across e-commerce, SaaS, travel, and media. Close to 800 employees will operate across 11 offices globally, with roughly 350 staff based outside India. The merged company will be headquartered in New Delhi.
Everstone is injecting "significant additional capital" into the deal beyond what was already committed when it acquired a majority stake in Wingify for $200 million in January 2025. Gupta described the fresh capital as primarily aimed at "cleaning up" AB Tasty's cap table - translation: paying off existing investors - and enabling the two businesses to operate as one. Financial terms weren't disclosed, though the structure includes cash and some equity rollover for existing leadership.
