Shruti Gurudanti, director of corporate transactions at Rose Law Group:
”Western Union’s purchase of Intermex will require close antitrust review, and it would be interesting to see how the authorities respond.”
By Jim Daly | Digital Transactions
In a move to bolster its leading position in an increasingly difficult money-transfer market, The Western Union Co. announced Sunday it has a deal to acquire International Money Express Inc. for $500 million in cash.
Better known as Intermex, Miami-based International Money Express has built a retail network of 100,000 independent agents and 117 company-operated stores since its founding in 1994, according to the company’s 2024 annual report. Customers in the U.S., Canada, the United Kingdom, Spain, Italy and Germany can send money to more than 60 countries. Its primary corridors are the U.S. to Latin America and the Caribbean, especially Mexico, Guatemala, El Salvador, Honduras, and the Dominican Republic, the report says. In North America, Intermex has 10,000 sending locations compared with 40,000 for Western Union, according to an investor presentation from Western Union.
