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A private equity firm has agreed to buy a majority stake in Everstone WingifyIt is one of India first-loaded software-as-a-service success storiesfor about $200 million, three sources familiar with the matter told TechCrunch.
The deal, finalized this week, marks a significant exit for Wingify founder Paras Chopra, who has been building the SaaS startup without outside funding since 2010.
Known for popular website testing service VWO, the profitable Delhi-based startup recently hit $50 million in annual revenue. Chopra will retain a minority stake in the firm, one of the sources said.
Wingify and Everstone did not immediately respond to requests for comment.
Wingify serves more than 4,000 customers in 90 countries, competing with global players such as Optimizely and Google Optimize.
The acquisition adds to Everstone’s growing technology portfolio. The private equity firm is actively investing in India’s technology sector, seeing opportunity in profitable, established companies with global reach.
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