Irish software group Norkom has shelved its plans for a pre-Christmas flotation. The company cite the continuing volatility of tech stocks worldwide for the delay.
The company, which counts heavyweights Denis O'Brien and Fran Rooney among its investors, has decided not to go ahead with its proposed Dublin and London float, the Irish Independent reported today. It is now considering going to the market in the New Year, the paper added.
The firm was expected to be valued at between $225 million and $275million when it floated.
Founded by former Cap Gemini executive Paul Kerley, the company specialises in software that manages customer relations, allowing companies to predict customers' behaviour and to influence them. Norkom recently completed a private placement, raising £17 million for the firm.
