Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 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 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. One of the common kinds of money transfer is a transfer via the international system of Western Union. 1970 - a new service called The Western Union Company is a financial services and communications company based in the United States. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.