Moneris to be acquired by Francisco Partners for $1.4 billion USD

Royal Bank of Canada (RBC) and Bank of Montreal (BMO) have agreed to sell their jointly owned Moneris Solutions Corporation to Francisco Partners, a San Francisco-based technology investment firm. The deal is valued at approximately 2 billion Canadian dollars (roughly $1.4 billion USD).

Moneris, which processes one in three Canadian transactions, will maintain its head office and technology infrastructure in Canada, supporting nearly 2,000 employees. As part of the agreement, RBC and BMO will enter into exclusive, long-term customer referral agreements with the company. RBC expects an after-tax gain of approximately $475 million, while BMO expects about $600 million upon closing.

Jeff Sloan, the former president and CEO of Global Payments Inc., will join Moneris as chairman. The transaction is expected to close by the end of the first quarter of fiscal 2027, subject to regulatory approvals and customary closing conditions.