BMO Financial Group and Royal Bank of Canada have agreed to sell their jointly owned Moneris Solutions Corporation to Francisco Partners for aggregate cash consideration of approximately $2 billion, with each bank receiving a 50 percent share of the proceeds. The transaction was announced on August 10, 2026, and remains subject to customary closing conditions and required regulatory approvals. BMO and RBC will also enter into new exclusive, long-term referral arrangements with Moneris at closing, preserving customer referral links after the ownership transfer. Moneris is described as a Canadian commerce solutions provider that helps businesses accept and manage payments at more than 325,000 points of commerce. Francisco Partners said the acquisition is intended to support Moneris’s next phase of growth in payments and commerce technology. As part of the transaction, Jeff Sloan, former President and CEO of Global Payments Inc., is expected to join Moneris as chairman. BMO expects to record a gain of approximately $600 million after-tax, while RBC expects a gain of approximately $475 million after-tax, in each case on closing. The transaction is expected to close by the end of the first quarter of fiscal year 2027, subject to regulatory approvals and other conditions. BMO disclosed that Osler, Hoskin and Harcourt LLP acted as its legal counsel, RBC disclosed Blake, Cassels & Graydon LLP as its legal counsel, and Kirkland & Ellis LLP disclosed that it advised Francisco Partners.