In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. The Western Union Company is a leader in global payment services 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. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.