In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Another invention of Western Union - time synchronization. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. 1970 - a new service called Western Union for more than 130 years provides money transfer services to its customers.