In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Payment systems are one of basic elements of infrastructure of e-commerce. 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 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. In the 1910-1920 years. Western Union is actively engaged in researching, innovating in the field of data transmission. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.