Francisco Partners Acquires Moneris for C$2 Billion

Francisco Partners has agreed to acquire Moneris Solutions Corporation, a prominent Canadian payment processor, from Bank of Montreal (BMO) and Royal Bank of Canada (RBC) for approximately C$2.0 billion (roughly $1.46 billion USD). This significant transaction, announced on August 10, 2026, marks a major shift for one of Canada's largest payment service providers.

The deal structure includes robust, long-term referral agreements with both BMO and RBC. These arrangements ensure that the major Canadian banks will continue to direct their clients to Moneris, guaranteeing a seamless transition for the financial institutions and their extensive customer base. This strategic alignment is designed to preserve the established relationships and operational continuity that have defined Moneris' market presence.

Moneris, established in December 2000 as an equal joint venture between BMO and RBC, has evolved into a critical component of the Canadian commerce ecosystem. The company currently supports over 325,000 merchant locations nationwide and processes more than five billion transactions annually, handling an estimated one in every three business transactions across the country. Its operations, including its nearly 2,000 employees and Toronto-based headquarters, will remain firmly rooted in Canada, maintaining its existing technology infrastructure.

Francisco Partners, a private equity firm with a deep specialization in technology and payments, brings a wealth of experience to this acquisition. The firm's investment portfolio includes notable companies such as Hypercom, Paymetric, NMI, and Verifone, underscoring its strategic focus on the fintech sector. The firm views Moneris as a leader in Canada's payment and commerce solutions, anticipating substantial opportunities for accelerated growth and innovation under its ownership.

To guide this next phase, Jeff Sloan, former President and CEO of Global Payments Inc., will assume the role of Chairman at Moneris. His extensive background in the payments industry is expected to be instrumental in driving the company's strategic initiatives. James Hicks, President and CEO of Moneris, expressed enthusiasm for the partnership, stating that Francisco Partners' expertise will empower Moneris to expedite its growth plans.

The transaction is subject to customary regulatory approvals, including clearance under Canada's Retail Payment Activities Act and the Competition Act. The parties anticipate the deal will be finalized by the first quarter of BMO and RBC's fiscal year 2027, which concludes at the end of January 2027. This acquisition is set against a backdrop of increasing consolidation and technological advancement within the global payments industry, where efficiency, security, and customer experience are paramount.