Moneris Sold to Francisco Partners in $1.4B Acquisition Deal
Moneris Solutions Corp., a Toronto-based payments company, has agreed to be acquired by Francisco Partners Management LP for approximately CA$2 billion. The deal values Moneris at about $1.44 billion USD. Joint owners Bank of Montreal and Royal Bank of Canada are set to exit the business, while maintaining commercial ties with Moneris.
The companies announced the acquisition on Monday, stating that Francisco Partners will purchase Moneris from its current owners. This deal marks a significant transaction in the payments industry, highlighting the growing interest in payment processing solutions.
Moneris has been a key player in Canada's payments landscape for many years, providing payment processing and technology services to merchants. The acquisition by Francisco Partners is expected to provide Moneris with new resources and expertise to drive growth and innovation in the industry.