Francisco Partners Acquires Moneris Solutions Corporation for C$2 Billion

Moneris Solutions Corporation has announced its acquisition by Francisco Partners for approximately C$2.0 billion in cash, according to a recent statement.

The deal, which is subject to customary regulatory approvals and closing conditions, will see Moneris become part of the global investment firm's portfolio.

Under the terms of the agreement, Bank of Montreal (BMO) and Royal Bank of Canada (RBC), which currently own a 50% stake in Moneris, will receive cash consideration for their shares.

As part of the transaction, long-term referral agreements have been established with BMO and RBC, under which they will exclusively refer customers to Moneris.

Francisco Partners has stated that it sees significant opportunities for growth and innovation in the payments landscape, and plans to build on Moneris' strong foundation.