As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In 1935, Western Union has put into operation first intercity fax communication. Another invention of Western Union - time synchronization. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. The Western Union Company is a financial services and communications company based in the United States.