Another invention of Western Union - time synchronization. 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 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. In the 1910-1920 years. Western Union is actively engaged in researching, innovating in the field of data transmission. 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.