In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. The presence of Western Union Gold Card at the client greatly simplifies the process of further processing of money transfers of and reduces the operation time for the sending of money, as the "Gold Card" is a carrier of the personal information about the client. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. 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. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. 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. The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.