The Western Union Company (NYSE: WU) has announced a definitive agreement to acquire International Money Express, Inc. (NASDAQ: IMXI), also known as Intermex, in an all-cash transaction.
The deal values Intermex at approximately $500 million in total equity and enterprise value, with Western Union offering $16.00 per IMXI share. This represents a roughly 50% premium to Intermex’s 90-day volume-weighted average price. The acquisition aims to strengthen Western Union’s retail offering in the U.
S., expand market coverage in high-potential geographies, and accelerate digital new customer acquisition.
Devin McGranahan, President and CEO of Western Union, stated, “This acquisition is a disciplined, strategic step that strengthens our North America operations and expands our presence with key consumer segments across the U.
S. Intermex has built a well-recognized brand, as well as strong agent and customer relationships. Together, we will expand our retail footprint, unlock operational efficiencies, and accelerate digital engagement.”
Bob Lisy, Chairman and CEO of Intermex, commented on the agreement, saying, “This agreement represents an exciting opportunity to provide Intermex’s shareholders with significant and certain value, accelerating our omni-channel strategy, while continuing to deliver for our customers. This combination with Western Union brings together two complementary businesses that are well positioned to drive growth across North America.”
The acquisition is strategically aligned to add scale in high-growth Latin America remittance corridors. It also provides an opportunity to serve Intermex’s 6 million customers, granting them access to Western Union’s digital platforms and capabilities. The move is expected to expand and stabilize Western Union’s U.
S. retail footprint, enhancing resilience and improving customer access across the Americas, while leveraging Intermex’s operational and cultural expertise for targeted retail growth.
Western Union anticipates generating approximately $30 million in annual run-rate cost synergies within 24 months of closing. The transaction is also expected to be immediately accretive to Western Union’s adjusted EPS by more than $0.10 in the first full year post-close, with potential for additional revenue synergies through broader distribution and product offerings.
The transaction has received unanimous approval from both Western Union’s Board of Directors and Intermex’s Board of Directors, the latter acting on the unanimous recommendation of its independent Strategic Alternatives Committee. Intermex’s Board recommends that its stockholders vote in favor of the merger.
The acquisition is subject to customary closing conditions, including regulatory approvals such as clearance under the Hart-Scott-Rodino Act and approvals from financial regulators, as well as approval by Intermex’s stockholders. The transaction is expected to close in mid-2026. Following completion, the companies plan to implement a coordinated integration strategy to ensure a smooth transition for customers, agents, and partners.
Western Union received financial advisory from PJT Partners and legal counsel from Sidley Austin LLP. Financial Technology Partners LP served as financial advisor to Intermex, with Holland & Knight LLP providing legal counsel. Lazard Frères & Co. LLC served as financial advisor and Cravath, Swaine & Moore LLP as legal advisor to Intermex’s Strategic Alternatives Committee.
Western Union, founded in 1851, provides cross-border, cross-currency money movement, payments, and digital financial services across more than 200 countries and territories and over 130 currencies. It connects with billions of bank accounts, millions of digital wallets and cards, and a global network of hundreds of thousands of retail locations. Intermex, founded in 1994 and headquartered in Miami, Florida, with international offices in Mexico, Guatemala, England, and Spain, utilizes proprietary technology for consumer money transfers from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to over 60 countries. Its services are delivered through agent retailers, company-operated stores, mobile apps, and websites, with transactions fulfilled through retail and bank locations worldwide.
Western Union is scheduled to host a conference call and webcast regarding the acquisition on Monday, August 11, 2025, at 8:30 a.m. ET.
