What's Happening?
Everstone Capital, a private equity firm, has announced the merger of India's Wingify and France's AB Tasty to create a digital experience optimization company valued at over $100 million. This merger comes
a year after Everstone acquired a controlling stake in Wingify for $200 million. The combined entity will serve over 4,000 customers globally, generating more than $100 million in annual revenue, with a significant portion coming from the U.S. and Europe. The merger aims to consolidate digital experience tools, particularly in A/B testing and personalization, as enterprises increasingly seek integrated platforms. Sparsh Gupta, co-founder of Wingify, will lead the new entity as CEO, with Everstone retaining majority control and board rights.
Why It's Important?
The merger signifies a strategic move towards consolidation in the digital experience sector, driven by the growing demand for AI-integrated marketing and product tools. By combining resources, Wingify and AB Tasty aim to enhance their product offerings and expand their market reach, particularly in the U.S. and Europe. This development reflects a broader trend in the industry, where private equity firms are increasingly pursuing mergers and acquisitions to build scalable, AI-ready platforms. The merger positions the new entity to compete with major players like Optimizely and Adobe, potentially reshaping the competitive landscape in digital experience optimization.
What's Next?
The merged company plans to invest in AI-led capabilities while maintaining customer experience and gradually expanding its platform. The merger is not expected to result in layoffs, focusing instead on value creation. The combined entity will have close to 800 employees across 11 global offices, with its headquarters in New Delhi. The merger is subject to customary closing conditions and approvals, and Everstone plans to support the new company with an advisory board of industry experts. The strategic focus will be on enhancing the product suite and expanding the company's footprint in Europe and other key markets.
