In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. In 1935, Western Union has put into operation first intercity fax communication. Money transfer is a matter of minutes, at any distance. Payment systems are one of basic elements of infrastructure of e-commerce. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. The Western Union Company is a financial services and communications company based in the United States. 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.