Private equity firm Everstone has reached a deal to acquire a majority stake in Wingify, one of India's earliest bootstrapped software-as-a-service (SaaS) success stories, for approximately $200 million, according to three sources familiar with the matter.

The acquisition, finalized this week, marks a significant exit for Wingify's founder Paras Chopra, who built the SaaS startup without external funding since its inception in 2010. Chopra will retain a minority stake in the firm, one of the sources revealed.

Wingify, a Delhi-based startup, is known for its popular website testing service VWO. The company has achieved significant success, with an annualized revenue of $50 million. Its client base spans over 4,000 customers across 90 countries, competing with global players like Optimizely and Google Optimize.

The acquisition adds to Everstone's growing technology portfolio. The private equity firm has been actively investing in India's technology sector, seeing opportunity in profitable, bootstrapped companies with global reach. This deal highlights Everstone's strategy to tap into the growing demand for SaaS solutions in India and beyond.

The acquisition is a testament to Wingify's success as a bootstrapped startup, demonstrating that it's possible to build a profitable business without relying on external funding. Chopra's decision to retain a minority stake in the firm suggests his continued involvement in the company's growth and development.

The deal's significance extends beyond Wingify, as it underscores the growing interest in India's technology sector. With Everstone's investment, Wingify is poised to expand its global footprint, further solidifying India's position as a hub for SaaS innovation.

As the deal is finalized, industry experts will be watching closely to see how Everstone's investment will shape Wingify's future growth and development. With its proven track record and global reach, Wingify is well-positioned to capitalize on the growing demand for SaaS solutions.

Neither Wingify nor Everstone has commented on the deal, but the acquisition is expected to have significant implications for India's technology sector. As more details emerge, TechCrunch will provide further updates on this developing story.