Francisco Partners Buys Moneris from BMO and RBC for $1.4B CAD

Canadian payments and commerce solutions provider Moneris Solutions Corp., jointly owned by BMO and Royal Bank of Canada (RBC), is set to be acquired by global investment firm Francisco Partners for approximately $1.4 billion CAD.

The deal, worth 2 billion Canadian dollars, marks a significant development in the company's evolution as it continues to power Canadian commerce.

Under the terms of the agreement, Moneris' existing leadership team will remain intact, with Jeff Sloan, former president and CEO of Global Payments, joining as chairman to provide strategic counsel. The company has also established long-term referral agreements with BMO and RBC, which will see the banks exclusively refer customers to Moneris.

Moneris offers a range of solutions, including eCommerce and omnichannel capabilities, point-of-sale hardware and software, integrated business tools, and data insights. The company serves businesses of all sizes across Canada and facilitates payments in one out of three transactions nationwide.