Francisco Partners to acquire Moneris for $1.5bn

By Milan Rojan

Moneris has agreed to be acquired by technology investment firm Francisco Partners from shareholders BMO and RBC for approximately $1.5 billion, as the Canadian payments provider has sought to accelerate its next phase of growth.

The transaction has been agreed in cash and remains subject to customary regulatory approvals and closing conditions. It has been expected to close by the end of the first quarter of BMO and RBC’s fiscal year 2027.

Under the agreement, BMO and RBC will each receive 50% of the sale proceeds. The banks have also established long-term referral agreements with Moneris, under which they will exclusively refer customers to the payments provider.

Francisco Partners has said its investment will support further innovation, platform expansion and growth at Moneris. The firm has cited its experience in payments and fintech, including investments in NMI, Verifone and Paymetric.

As part of the transaction, Jeff Sloan, former President and CEO of Global Payments, has been appointed Chairman of Moneris. He has brought extensive experience across the global payments industry to the role.

James Hicks, President and CEO of Moneris, said: “With Francisco Partners’ deep global expertise in technology and payments, we are well-positioned to further accelerate our ambitious strategy.”

Moneris has continued to serve Canadian businesses through nearly 2,000 employees, with its headquarters and technology infrastructure remaining in Canada. The company has said its commitment to customers and local operations will remain unchanged following the ownership transition.

Peter Christodoulo, Partner at Francisco Partners, has described Moneris as “one of the strongest payments solution providers in North America”, citing its technology, brand and established relationships with Canadian financial institutions.

The acquisition has highlighted continued private equity interest in payments infrastructure, with Francisco Partners positioning the investment around technology development and long-term expansion in Canada’s increasingly digital and AI-driven economy.