BMO Financial Group, Together With Royal Bank of Canada, Entered Into An Agreement For The Sale Of Jointly-Owned Moneris Solutions Corporation To Francisco Partners For Cash Consideration Of ~ $2B

BMO Financial Group (TSX:BMO) (NYSE:BMO) announced today that together with Royal Bank of Canada, it has entered into an agreement for the sale of jointly-owned Moneris Solutions Corporation, a leader in Canadian commerce solutions, to Francisco Partners, a leading technology investment firm, for cash consideration of approximately $2.0 billion, of which BMO's share is 50%. Concurrent with the closing of the transaction, BMO and RBC will enter into new exclusive, long-term referral arrangements with Moneris.