Western Union has entered into a definitive agreement to acquire Miami-based International Money Express (Intermex) for around $500 million in an all-cash transaction valued at $16 per Intermex share. The acquisition is expected to close in mid-2026.
Founded in 1994, Intermex enables its over six million customers to send money from the US, Canada, Spain, Italy, Germany, and the UK to more than 60 countries. Customers can access these services through the company’s website, mobile app, network of agent retailers, and the firm’s physical stores.
Western Union says its new acquisition will provide the company with “deep market knowledge, strong agent relationships, and operational expertise”, particularly in Latin American geographies, adding that it expects the deal will generate “$30 million in annual run-rate cost synergies within 24 months”.
Devin McGranahan, president and CEO of Western Union, says that he expects the purchase to bolster the company’s “retail footprint, unlock operational efficiencies, and accelerate digital engagement”.
Describing Intermex as a “well-recognised brand” with “strong agent and customer relationships”, McGranahan adds: “This acquisition is a disciplined, strategic step that strengthens our North America operations and expands our presence with key consumer segments across the US.”
The move follows Western Union’s previous acquisition of Dash, a mobile wallet from Singapore-based communications technology group Singtel, last year. Western Union currently provides cross-border and cross-currency financial services in over 200 countries and territories, supporting 130 currencies.
Source: https://www.fintechfutures.com/
