In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. Payment systems are one of basic elements of infrastructure of e-commerce. In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company.