In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. Another invention of Western Union - time synchronization. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company.