In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Most service points of Western Union work in the time convenient for customers throughout the week and throughout the year. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 1970 - a new service called Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone.