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 October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Payment systems are one of basic elements of infrastructure of e-commerce. The Western Union Company is a leader in global payment services In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company.