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. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. Payment systems are one of basic elements of infrastructure of e-commerce. Before transition to remittances Western Union company rendered services on sphere of cable communication. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.