Moneris to be acquired by Francisco Partners for $2B

What's the deal? Moneris Solutions CorporationDealroom has a profile for this one. Try Dealroom → is set to be acquired by Francisco PartnersDealroom has a profile for this one. Try Dealroom → for approximately $2 billion in cash. The business is jointly owned by Royal Bank of CanadaDealroom has a profile for this one. Try Dealroom → and Bank of MontrealDealroom has a profile for this one. Try Dealroom →, with RBC holding a 50% share.

What it means: Moneris provides commerce and payment solutions at more than 325,000 points of commerce across Canada. Francisco Partners says its technology and fintech platform will support the company's modernisation and growth across small, medium-sized and enterprise businesses.

What's next? The transaction is expected to close by the end of the first quarter of fiscal 2027, subject to customary closing conditions and regulatory approvals. RBC expects to record an estimated $475 million after-tax gain at closing.

Read more: Newswire

Image credit: Moneris Solutions Corporation