In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. In 1864, fearing the laying of long underwater lines, Western Union offered to carry out laying of telegraph lines to Europe through the Russian Alaska under the narrow Bering Strait and then to Siberia with branching in the major cities of Europe. Payment systems are one of basic elements of infrastructure of e-commerce. 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 October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. To obtain the Golden card can any client of Western Union, committing money transfers on this system more than 1 time per year. Getting the card is issued at the time of making of the next transfer. In 1933, by the Western Union Company were invented "singing telegrams". In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp.