Everstone acquires majority stake in Wingify for $200 million

Private equity firm Everstone has finalized an agreement to acquire a majority stake in Wingify, a leading Indian SaaS company recognized for its website optimization tool, Visual Website Optimizer (VWO), in a deal valued at approximately $200 million. Founded in 2010 by Paras Chopra and Sparsh Gupta, Wingify has successfully operated without external funding, generating annual revenue of around $50 million. Chopra will retain a minority stake in the firm and remain on the board, while Sparsh Gupta will continue as CEO to ensure operational continuity. This acquisition highlights Everstone's increased focus on the growing SaaS sector in India, which is projected to generate $50 billion in annual revenue by 2030. The deal also marks a significant milestone for Wingify, which serves over 4,000 clients across 90 countries and competes with global players like Optimizely and Google Optimize. Everstone's investment strategy includes seeking profitable, bootstrapped companies with global reach, having previously invested over $1.3 billion in technology firms.