Wingify Joins Forces with Everstone Capital for Global Market Expansion
Deal News | Jan 24, 2025 | EIN
Everstone Capital, a private equity firm based in Singapore, has acquired a majority stake in Wingify, a prominent Indian SaaS provider known for its marketing technology product, VWO. This acquisition is part of Everstone's strategy to bolster its technology investments, specifically in the SaaS and marketing technology sectors across India and Southeast Asia. Wingify has gained substantial global traction, with strong profitability and an ARR exceeding $50 million. The deal is positioned to accelerate the company's product innovation and enhance international growth. Co-founders Sparsh Gupta and Paras Chopra will retain significant equity stakes and continue to hold strategic roles within the company. The acquisition underscores Everstone's confidence in India's burgeoning technology sector, marking it as one of the most notable software buyouts in the country.
Sectors
- Private Equity
- SaaS (Software as a Service)
- Marketing Technology
Geography
- India – Wingify is an India-based SaaS company, illustrative of the country's growing technology sector.
- Southeast Asia – Everstone Capital is focused on expanding its technology investments across this region, in line with its strategic goals.
- Singapore – Everstone Capital is headquartered in Singapore, which is central to its strategic operations in Asia.
Industry
- Private Equity – Everstone Capital is engaging in strategic investments within the technology field, focusing on mid-market and control growth opportunities, which is a core aspect of private equity.
- SaaS (Software as a Service) – Wingify is a leading global provider of SaaS products, particularly in marketing technology, emphasizing the relevance of this industry.
- Marketing Technology – The acquisition highlights a strategic investment in marketing technology, underscoring the industry's importance in Everstone's portfolio.
Financials
- $50M+ – Wingify's Annual Recurring Revenue (ARR).
- USD 8 Billion – Everstone Group's assets under management.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Everstone Capital | Acquiring Company | Company | A Singapore-based private equity firm focusing on technology investments across India and Southeast Asia. |
| Wingify | Target Company | Company | An Indian SaaS company known for its marketing technology product VWO, with a significant global market presence. |
| Sparsh Gupta | Co-Founder and CEO | Person | CEO of Wingify and co-founder, instrumental in guiding the company's growth and strategic direction. |
| Paras Chopra | Founder and Board Member | Person | Founder of Wingify, remaining involved as a shareholder and board member post-acquisition. |
| Sandeep Singh | Managing Director | Person | Managing Director at Everstone Capital, involved in the acquisition of Wingify. |
| Avnish Mehra | Vice Chairman and Head of Private Equity | Person | Vice Chairman at Everstone Capital, elaborates on the firm's investment strategy. |