Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. 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 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. 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 -