RBC and BMO Near $2 Billion Moneris Sale to Verifone Owner, Report Says
Royal Bank of Canada and Bank of Montreal are negotiating the sale of Moneris to Francisco Partners, which owns Verifone, in a transaction that could put the Canadian payments company’s value north of $2 billion, according to the Financial Times, which cited people with knowledge of the talks. The deal discussions, ongoing for months, appear to be reaching a critical phase for Moneris, one of the country’s largest merchant payment processors. Timing is key here: Moneris operates near the front lines of Canada’s cash flow. The firm claims to handle a third of all transactions nationally, providing businesses with everything from point-of-sale tech to e-commerce solutions and mobile payment tools.
