In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In 1935, Western Union has put into operation first intercity fax communication. Money transfer is a matter of minutes, at any distance. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company.