Moneris Sold to Francisco Partners in $1.4B Deal

Moneris Solutions Corp., a Toronto-based payments company, has agreed to be acquired by Francisco Partners Management LP for approximately CA$2 billion ($1.44 billion).

The joint owners of Moneris, Bank of Montreal and Royal Bank of Canada, have decided to exit the business while maintaining commercial ties with the company.

The acquisition is expected to close in the coming months, although a specific date has not been announced.