In 1920, Western Union has implemented the world's first transmission of images over the ocean. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. In 1935, Western Union has put into operation first intercity fax communication. 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. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.