Solera, the Texas-based risk and asset management data and software company backed by private equity fund Vista Equity Partners, is delaying its initial public offering, according to two sources familiar with the situation.

The company was expecting to price the listing between the end of July and early August, though increased market volatility has made a launch unlikely for the time being, said the sources.

Solera previously filed for an IPO on the New York Stock Exchange in late June that reportedly aimed to raise more than USD 1bn.

Stock market volatility and valuation discrepancies are the main reasons for the postponement, according to the sources.

Solera has been working with advisors at Goldman Sachs, Bank of America, Jeffries, and Morgan Stanley for the offering. Citibank and RBC Capital Markets are among the bookrunners.

Vista led a group of investors that took Solera private in 2016, in a deal valuing the company at about USD 6.5bn, according to reports at the time.

A spokesperson for Solera said that the company does not comment on matters pertaining to financial movement of the business and any decisions regarding its strategic direction will be communicated through official channels at the appropriate time.

Vista Equity declined to comment.