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. In 1935, Western Union has put into operation first intercity fax communication. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. 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. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.