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. The Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. Another invention of Western Union - time synchronization. In the 80's of Nineteenth century, Western Union was repeatedly tried capture by the railroad tycoon Jay Gould. He worked with Alexander Graham Bell, inventor of the first phone. The Western Union Company is a financial services and communications company based in the United States. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - 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.