Provider of Previous Post Office Software Aims to Make a Comeback on London Stock Exchange | Business News
A provider of software for post offices worldwide is planning to return to the London stock market six years after being taken private.
Sky News has learned that Escher Group, which had contracts with Fujitsu, a key player in the Horizon IT scandal, is working with bankers on a potential IPO.
City sources suggest the flotation could happen later this year, but a listing in 2025 is more likely.
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Singer Capital Markets has been appointed to assist with the plans.
A spokesperson for Escher declined to comment on specifics of an IPO, but confirmed the company is not a supplier to the UK Post Office and currently serves the US postal service.
Escher also provides services to retailers and companies in other sectors, positioning itself as “the global leader in customer engagement software for Post Offices and couriers”.
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Escher was acquired by Hanover Investors in 2018, valuing its shares at around £35m. The company’s valuation for the upcoming IPO remains uncertain.
Other investments by Hanover include luxury motor yacht manufacturer Fairline.
