In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. 1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. In 1935, Western Union has put into operation first intercity fax communication. Another invention of Western Union - time synchronization. Money transfer is a matter of minutes, at any distance. Payment systems are one of basic elements of infrastructure of e-commerce. The Western Union Company is a leader in global payment services Before transition to remittances Western Union company rendered services on sphere of cable communication. In 2000 was launched the Web site westernunion.com, with which users from certain countries can independently transfer funds online.