Software company Visma AS has postponed its planned London IPO until next year, according to people familiar with the matter. The Norway-based firm, owned by private equity group Hg, had been preparing for a public listing on the London Stock Exchange. The delay comes as market conditions remain challenging for tech IPOs.

Visma, a major European provider of business software solutions, was exploring a London listing that would have valued the company at potentially billions of dollars. The firm serves over 1.2 million customers across Europe with products ranging from accounting software to enterprise resource planning tools. The postponement suggests the company and its private equity owners are waiting for more favorable market conditions before proceeding with the public offering.

The decision to delay reflects broader uncertainty in equity markets, particularly for technology companies. With interest rates elevated and investor sentiment cautious toward growth stocks, many companies are choosing to wait before testing public markets. For Visma, this strategic pause allows more time to strengthen its market position and potentially achieve a higher valuation when conditions improve.