In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union for more than 130 years provides money transfer services to its customers. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. On the market was placed about 765 million of ordinary shares of the company. On the first day trading on the exchange the company's shares rose by 3.3% and the cost was $ 19.96. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Founder of Western Union Hiram Sibley was born in 1807 in Massachusetts (USA). At age of 14 has mastered the profession of shoemaker, at age 16 he left his native cityand moved to New York, where he went into wool carder.
Western union sending money to Canada
In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union for more than 130 years provides money transfer services to its customers. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires.
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Western Union for more than 130 years provides money transfer services to its customers. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. The Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. 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. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. Another invention of Western Union - time synchronization. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.