ENGLEWOOD, Colo., Oct 31, 2011 (BUSINESS WIRE) -- The Western Union Company (NYSE:WU), a leader in global payment services, today announced it has completed the acquisition of Finint S.r.l., one of Western Union's leading money transfer network Agents in Europe.
Western Union President and CEO Hikmet Ersek said, "We are very pleased to complete the acquisition of Finint, which advances our strategy of growing the money transfer business in Europe. Adding Finint to our network will allow us to get closer to the consumer and offer better consistency in the customer experience across thousands of locations in Europe."
Finint manages more than 10,000 subagent locations across Italy, Spain, and the United Kingdom. Western Union previously owned 30 percent of the company prior to acquiring the remaining 70 percent. The transaction complements Western Union's acquisitions of leading European network agents FEXCO in 2009, and Angelo Costa S.r.l. earlier this year.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of approximately 485,000 agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit http://www.westernunion.com.
SOURCE: The Western Union Company
The Western Union Company
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