MoneyGram International history

In 1992, First Data was spun off from American Express and publicly traded on the New York Stock Exchange.

Thomas Cook Global Foreign Exchange, under the stewardship of John Bavister, launched a re-engineered money transfer service in 1994.

In 1996, Integrated Payment Systems, the nation's second largest non-bank consumer money transfer business, became its own publicly traded company and was renamed MoneyGram Payment Systems Inc.

MoneyGram International Ltd. was established in 1997 by MoneyGram Payment Systems Inc. and Thomas Cook, a year after the company had gone public.

In 1998 it was acquired by Travelers Express and thereby became an independent company.

In November 2000, the MoneyGram brand and business was sold to Travelex as part of its acquisition of Thomas Cook Financial Services for £400m.

In 2003, Travelers Express gained full ownership of the MoneyGram network, including MoneyGram International.

In 2004, Travelers Express became what is known today as MoneyGram International.

By 2006, MoneyGram International had expanded internationally to include over 96,000 agents in regions such as the Asian-Pacific, Eastern Europe, and Central America.

During the drop, United States Bancorp shifted its money transfer services to Western Union. It lost more than $1.6 billion from investments in securities backed by risky mortgages in 2008, and the losses led the company to sell a majority stake to Thomas H. Lee Partners and Goldman Sachs in exchange for a cash infusion.

Amid MoneyGram's turnaround, Pamela Patsley became the executive chairwoman of the company in January 2009 and was later named CEO in September of that year.

In November 2010, MoneyGram officially relocated its global headquarters to the city of Dallas, Texas.

In 2013, MoneyGram began considering a sale.

In 2014, MoneyGram lost a relationship with Wal-Mart Stores and then began restructuring to cut costs.

In 2015, the company's agent network in Africa reached 25,000 locations, including an agreement with the Mauritius Post Office.

On January 26, 2017, Ant Financial Services Group announced a deal to acquire MoneyGram International for $880 million; the deal subsequently collapsed after it was rejected by the Committee on Foreign Investment in the United States.