BMO and RBC Sell Moneris to Francisco Partners in $2 Billion Deal

BMO Financial Group and Royal Bank of Canada have announced their intention to sell Moneris Solutions Corporation, a Canadian commerce solutions provider, to investment firm Francisco Partners. The deal is worth approximately $2 billion, with BMO's share being 50% or around $1 billion.

Moneris has become one of the largest providers of commerce solutions in Canada over its 25-year history, serving over 325,000 points of commerce and offering a range of payment options. The sale will allow Moneris to accelerate its strategy and continue delivering value to Canadian businesses.

Francisco Partners has experience scaling financial technology companies globally, including those involved in payments and commerce. The investment firm's involvement is expected to bring new capabilities and innovations to the Canadian market, further strengthening the commerce ecosystem.