As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In 1935, Western Union has put into operation first intercity fax communication. Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. Another invention of Western Union - time synchronization. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. The Western Union Company is a leader in global payment services 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. In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars.