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. 1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. 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. 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 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.