In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. 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 1935, Western Union has put into operation first intercity fax communication. Another invention of Western Union - time synchronization. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. Money transfer is a matter of minutes, at any distance. In 1864, fearing the laying of long underwater lines, Western Union offered to carry out laying of telegraph lines to Europe through the Russian Alaska under the narrow Bering Strait and then to Siberia with branching in the major cities of Europe. 1970 - a new service called Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. In 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.