Francisco Partners Purchase Moneris in C$2B Deal

Moneris Solutions Corporation, a subsidiary of Royal Bank of Canada and BMO Financial Group, will be acquired by San Francisco-based Francisco Partners for approximately C$2 billion. 

As part of the deal, which is expected to close by the end of the first quarter of fiscal 2027 and is valued at about USD $1.44 billion. 

Additionally, Bank of Montreal and Royal Bank of Canada will each receive a 50% stake in the transaction, according to Moneris.

“Importantly, our commitment to our customers, partners and people remains unchanged, and we will continue to operate with the same focus, values and leadership that have defined Moneris for more than two decades,” said James Hicks, CEO and president of Moneris. 

Following the acquisition, Jeff Sloan, former CEO and president of Global Payments, will join Moneris as chairman. 

Moneris, which was founded in 2000, offers e-commerce, hardware and software, business tools, and data and insights for a wide range of businesses across Canada. 

In March, the Royal Bank of Canada acquired Toronto-based fintech Pinch Financial, a technology platform designed to streamline the mortgage qualification process for Canadian borrowers.