As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. Money transfer is a matter of minutes, at any distance. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. 1970 - a new service called Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.