The transaction, expected to close by the first quarter of fiscal year 2027, marks a significant shift for the Toronto-based company, which currently processes one in three transactions across Canada. While ownership transitions to the California-based private equity firm, Moneris will maintain its existing headquarters, technology infrastructure, and 2,000-person workforce. James Hicks will remain in his role as President and CEO, supported by the appointment of industry veteran Jeff Sloan, former CEO of Global Payments Inc., who joins the firm as Chairman.

Francisco Partners, known for its extensive portfolio in fintech and payments, intends to leverage its global resources to accelerate the company’s product innovation and digital growth. Both BMO and RBC will maintain a strategic relationship with the provider through exclusive referral arrangements, ensuring continuity for the 325,000 locations currently utilizing Moneris hardware and software. The acquisition remains subject to standard regulatory scrutiny, including reviews under Canada's Retail Payment Activities Act and the Competition Act.