Here’s a rewritten version of the article in a more conversational tone:
Hey there, tech enthusiasts! I’ve got some exciting news to share with you all – Everstone Capital, a personal equity firm, is merging two industry leaders, Wingify and AB Tasty, to create a $100M digital experience optimization firm. That’s right, folks, we’re talking about a massive player in the space, with over 4,000 clients globally and raking in $100M annually.
Let’s dive into the details. Wingify, founded by Sparsh Gupta and Paras Chopra back in 2010, is a pioneer in A/B testing and customer experience optimization. Everstone acquired a majority stake in Wingify last year, marking a significant exit for Chopra. And now, Everstone is merging Wingify with AB Tasty, a French company that offers experimentation and personalization software, used by over 1,000 brands.
The merged entity will be led by Gupta as CEO, with Ankit Jain, co-founder of Wingify, taking on the role of Chief Product and Technology Officer. AB Tasty’s co-founders, Rémi Aubert and Alix de Sagazan, will join the executive team as Chief Customer and Strategy Officer and Chief Revenue Officer, respectively. Talk about a dream team!
So, what does this mean for the digital experience optimization space? With the merger, the combined company will have a presence in over 11 offices globally, with around 350 employees based outside of India. They’ll also have a significant footprint in Europe, taking on players like Optimizely and Adobe. That’s a pretty impressive roster of competitors!
Gupta framed the merger as a natural convergence of two long-time rivals. “Both companies have been working as friendly competitors,” he said in an interview with TechCrunch. “This merger reflects the growing demand from enterprises for more integrated and holistic digital experience platforms.” I love the way he puts it – the merger is a natural progression in the industry’s evolution.
The merged entity will focus on building out its platform capabilities, particularly in AI-led personalization. Gupta assured that there are no layoffs planned as part of the merger, with a focus on creating value rather than cost-cutting. That’s music to my ears!
Everstone, as the majority shareholder, will retain control of the merged company and maintain a majority of the board seats. The board will have 5-6 seats in total, including representation from Everstone and Gupta, along with 3-4 independent directors.
As the tech industry continues to evolve, we’re seeing a growing trend of consolidation in the software space. Private equity firms like Everstone are backing companies with a strong potential for growth and scale. This merger is just the latest example of this trend.
So, what do you think about this merger? Will it shake up the digital experience optimization space? Let us know in the comments!
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Sources:
* [Everstone, Wingify, and AB Tasty]
* [TechCrunch]
P.S. I’d love to hear your thoughts on this merger in the comments below!
