Francisco Partners has entered into a definitive agreement to acquire Moneris from BMO and RBC for 2 billion Canadian dollars (about $1.4 billion). Subject to customary regulatory approvals and closing conditions, the transaction is expected to close by the end of the first quarter of BMO and RBC’s fiscal year 2027, according to the release.
In addition, the company has established long-term referral agreements with both BMO and RBC that will see the banks exclusively refer customers to Moneris, the release said.
As part of the transaction, Jeff Sloan, former president and CEO of Global Payments, will join Moneris as chairman, complementing the company’s existing leadership team, per the release.
Moneris offers eCommerce and omnichannel solutions, point-of-sale hardware and software, integrated business tools, and data and insights; serves businesses of all sizes across Canada; and helps businesses accept and manage payments in one out of three transactions across the country, according to the release.
Moneris President and CEO James Hicks said in the release: “This announcement marks an exciting next step in Moneris’ continued evolution as the company that powers Canadian commerce.”
Francisco Partners Principal Nate Zupan said in the release: “With Jeff Sloan’s deep industry expertise and strategic counsel as chairman, we are excited to support the Moneris team as they continue to deliver the technology, scale and reliability Canadian businesses need to thrive in an increasingly digital and AI-driven economy.”
In its own Monday press release about the sale of the jointly owned company, BMO said that its share of the 2 billion Canadian dollar transaction is 50%.
“Through our ongoing referral arrangements, clients will continue to benefit from the trusted support and solutions they rely on today,” Sharon Haward-Laird, group head, Canadian Commercial Banking & North American Integrated Solutions, and co-head Canadian Personal & Commercial Banking, BMO, said in the release.
RBC said in a Monday press release that its share of the transaction is 50% and that Moneris’ exclusive long-term customer referral arrangements with RBC and BMO will ensure that new and existing business clients continue to receive Moneris’ support and solutions.
“We’re eager to see the accelerated investment in innovation and modernized solutions Moneris will bring to our valued business clients and the Canadian market,” Sean Amato-Gauci, group head, Commercial Banking, RBC, said in the release.
It was reported in August 2025 that RBC and BMO were exploring a sale of Moneris, which they founded in 2000.
