Western Union and Intermex Announce Acquisition Update

DENVER & MIAMI–(BUSINESS WIRE)–
The Western Union Company (NYSE: WU) and International Money Express, Inc. (Intermex) (NASDAQ: IMXI) have issued a joint update regarding regulatory approvals for Western Union’s proposed acquisition of Intermex, a move that could reshape a significant segment of the cross-border remittance market.

The companies announced they have secured regulatory approval from the New York State Department of Financial Services (NYDFS). This pivotal endorsement comes with certain commitments from Western Union concerning its remittance services and operational footprint within New York post-acquisition. These commitments are likely designed to ensure continued accessibility and service levels for consumers in a key financial hub, a common concern for regulators overseeing essential financial services.

However, the path to completion has encountered a significant hurdle. On August 13, 2026, both Western Union and Intermex received a letter from the California Department of Financial Protection and Innovation (DFPI). This letter suspends a previously granted approval extension for the acquisition, which was initially extended on July 31, 2026. The DFPI cited a need for further review, specifically mentioning the six-month interval since the original approval and an examination of the proposal’s impact on operations within California. This suspension underscores the heightened scrutiny financial regulators are applying to large-scale M&A activities, particularly those impacting consumer-facing financial services and potentially affecting market competition or consumer access.

Western Union and Intermex have signaled their intent to engage promptly with the DFPI to address its concerns and advocate for the reinstatement of the approval. The companies remain committed to finalizing the transaction and aim to close the deal shortly after the DFPI approval is reinstated, contingent upon the satisfaction or waiver of other standard closing conditions.

**Strategic Implications and Market Dynamics**

The acquisition of Intermex by Western Union, a global leader in money movement, represents a significant strategic play. Intermex, with its strong presence in facilitating remittances from the U.S. and Europe to Latin America and other key corridors, complements Western Union’s existing network and digital capabilities. The integration could lead to enhanced service offerings, greater operational efficiencies, and a more robust digital platform to serve a growing demand for international money transfers.

From a technological perspective, this acquisition could accelerate Western Union’s digital transformation. Intermex’s established digital channels and partnerships, combined with Western Union’s extensive global infrastructure and payment network, offer a potent synergy. The focus on digital wallets, mobile apps, and online platforms is critical in an increasingly digitalized remittance landscape, where speed, convenience, and cost-effectiveness are paramount for consumers.

However, regulatory approvals remain a critical gating item. The NYDFS approval signifies progress, but the DFPI’s suspension highlights the complex and evolving regulatory environment for financial technology and cross-border payments. Regulators are increasingly focused on consumer protection, data security, anti-money laundering (AML), and ensuring fair competition in the financial services sector. The DFPI’s request for a deeper review suggests potential concerns around market concentration, the impact on existing service providers in California, or the long-term implications for consumers in the state.

The commitment from both companies to engage with the DFPI reflects the understanding that navigating these regulatory landscapes is as crucial as the business case for the merger itself. The ability to articulate the benefits of the combined entity – such as improved compliance infrastructure, expanded reach for underserved populations, and more competitive pricing – will be key to resolving the DFPI’s concerns.

The “Safe Harbor Compliance Statement” within the original announcement, detailing forward-looking statements and associated risks, underscores the inherent uncertainties in such large-scale transactions. Factors such as achieving regulatory milestones, successful integration of operations, managing transaction costs, and maintaining customer and supplier relationships are all critical to realizing the anticipated benefits of the merger. The market will be watching closely to see how Western Union and Intermex address these challenges and navigate the regulatory complexities to finalize this significant deal.

About Western Union

The Western Union Company is dedicated to empowering individuals globally to build stronger financial futures for themselves, their families, and their communities. Through its leading cross-border, cross-currency money movement, payments, and digital financial services, Western Union connects consumers, businesses, financial institutions, and governments across over 200 countries and territories. Its extensive network encompasses billions of bank accounts, millions of digital wallets and cards, and hundreds of thousands of retail locations, all aimed at providing accessible financial services that foster prosperity.

About Intermex

Founded in 1994, International Money Express, Inc. (Intermex) facilitates money transfers from the United States, Canada, Spain, Italy, and Germany to over 60 countries. Intermex offers digital money transfer services through a diverse network of agent retailers, company-operated stores, mobile applications, and websites. Transactions are processed via thousands of retail and banking locations worldwide. Intermex is headquartered in Miami, Florida, with international offices in key locations including Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain.

Safe Harbor Compliance Statement for Forward-Looking Statements

This press release contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict. Actual outcomes and results may differ materially from those expressed in, or implied by, these forward-looking statements. Words such as “expects,” “intends,” “targets,” “anticipates,” “believes,” “estimates,” “guides,” “provides guidance,” “provides outlook,” “projects,” “designed to,” “pending,” ”working to,” ”subject to,” and other similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” “could,” and “might” are intended to identify such forward-looking statements. Readers of this joint press release of Western Union and Intermex should not rely solely on the forward-looking statements and should consider all uncertainties and risks discussed in the Risk Factors section of the respective Annual Reports on Form 10-K for the year ended December 31, 2025 for Western Union and Intermex and in subsequent filings with the Securities and Exchange Commission (the “SEC”) made by Western Union and Intermex, respectively. The statements are only as of the date they are made, and neither Western Union nor Intermex undertakes any obligation to update any forward-looking statement.

By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, as well as any related oral statements, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to, factors relating to the proposed acquisition of Intermex by Western Union, including: (i) the completion of the proposed transaction on anticipated terms and timing (or whether the transaction will close at all), including obtaining regulatory approvals (such as the pending approval from the DFPI) and the satisfaction or waiver of conditions to the completion of the transaction; (ii) the ability of Western Union to integrate and implement its plans, forecasts and other expectations with respect to Intermex’s business after the completion of the proposed transaction; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the definitive merger agreement, which may require either Western Union or Intermex to pay a termination fee or other expenses; (iv) potential significant transaction costs associated with the proposed transaction, and the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (v) continued availability of capital and other changes in capital markets; (vi) potential litigation or regulatory actions relating to the proposed transaction, which could result in significant costs of defense, indemnification, and liability; (vii) the risk that disruptions from the proposed transaction, such as diverting management’s attention from the ongoing business operations and relationships of Western Union or Intermex, may harm its business, including current plans and operations, the market price of the capital stock of Western Union and Intermex, or Western Union’s and Intermex’s operating results; (viii) the effect of the announcement, pendency or completion of the proposed transaction on the ability of Western Union or Intermex to retain and hire key personnel; (ix) Western Union or Intermex’s ability to maintain relationships with customers, suppliers, governments, regulators and others with whom Western Union or Intermex, respectively, does business, or its operating results or business generally; (x) potential adverse business uncertainty resulting from restrictions imposed by the definitive merger agreement during the pendency of the proposed transaction that may impact Western Union or Intermex’s ability to pursue certain business opportunities or strategic transactions; (xi) the impact of regulatory actions, investigations or inquiries, including the suspension of previously granted approvals, on the timing or completion of the proposed transaction; and (xii) the risks and uncertainties pertaining to Western Union and Intermex’s respective businesses, including those set forth in the most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q filed by Western Union and Intermex, respectively, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed or furnished with the SEC.