Western Union agreed to acquire International Money Express for about $500 million in cash, paying $16 a share, according to statements released late Sunday. The price represents a premium of just over 70% to Intermex’s last closing price of $9.28. The money-transfer company said the deal will strengthen its U.S. retail network and expand its presence in high-growth Latin American remittance corridors. Western Union expects about $30 million in annual cost synergies within two years and forecasts the transaction will add more than $0.10 to adjusted earnings per share in the first full year after completion. The purchase also brings roughly six million Intermex customers onto Western Union’s digital and physical platforms. Both boards have unanimously approved the transaction, which is slated to close in mid-2026 pending Intermex shareholder assent and clearances from U.S. antitrust and financial regulators. Western Union, founded in 1851, operates in more than 200 countries and territories, while Miami-based Intermex specializes in remittances from the United States to Latin America and the Caribbean.