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Tue, February 24, 2009 Western Union Acquires the Money Transfer Business of One of its Largest Agents, European-Based FEXCO
ENGLEWOOD, Colo.--([ BUSINESS WIRE ])--The Western Union Company (NYSE: WU), a global leader in money transfer services, today announced it has completed the acquisition of the money transfer business of European-based FEXCO, one of the company's largest Agents.
As previously announced, Western Union will now manage and support more than 10,000 consumer-facing locations in seven European countries: the United Kingdom, Spain, Ireland, Sweden, Norway, Denmark and Finland. The acquisition of the business in Norway awaits regulatory approval.
As a result of this transaction, approximately 300 FEXCO employees will join Western Union.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a network of more than 375,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit [ www.westernunion.com ].
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