Key facts
- Royal Bank of Canada and BMO Financial Group are selling Moneris Solutions.
- Francisco Partners is acquiring Moneris Solutions.
- Moneris Solutions is a jointly owned payments processing business.
- The sale price is C$2 billion.
- The sale price is approximately $1.44 billion USD.
- The deal is expected to close in the first quarter of fiscal 2027.
Royal Bank of Canada (RBC) and BMO Financial Group have announced an agreement to sell Moneris Solutions, their jointly owned payments processing business. The buyer is Francisco Partners, a technology investment firm. The transaction is valued at C$2 billion, which equates to approximately $1.44 billion USD. Moneris Solutions is a prominent entity in the payments processing sector. The sale is expected to be finalized in the first quarter of fiscal year 2027. This divestiture represents a strategic move by both RBC and BMO to streamline their operations and focus on core banking services. Francisco Partners, with its focus on technology investments, is expected to further develop Moneris's capabilities and market reach. The payments processing industry continues to be a dynamic area with ongoing technological advancements and evolving consumer demands. The sale of Moneris is indicative of broader trends in the financial services sector, where companies are increasingly specializing or divesting non-core assets. Further details regarding the integration and future plans for Moneris under Francisco Partners' ownership are anticipated following the closure of the deal.