RBC, BMO agree to sell payment processing company Moneris for about $2 billion
Royal Bank of Canada and BMO Financial Group agreed to jointly sell payment processor Moneris Solutions Corp. Moneris will be acquired by Francisco Partners for about $2 billion in cash, with RBC and BMO each receiving 50%. After closing, RBC and BMO will have a long-term customer referral arrangement. Deal is subject to approvals and expected to close by end of Q1 FY2027.
