Western Union nears Intermex close with 51 of 52 state approvals

Western Union's $402 million acquisition of Intermex is one regulatory sign-off away from completion after securing approvals from 51 U.S. states and territories and all international jurisdictions.

Western Union Co. and International Money Express Inc. said Tuesday that money transmission regulators in 51 applicable U.S. states and territories and in all international jurisdictions have provided their approval or non-objection to the deal, with approval currently pending from one U.S. state. The companies are in active discussions with the New York State Department of Financial Services to obtain the final regulatory clearance.

"The breadth of approvals across 51 states and all international jurisdictions reflects the thoroughness of our regulatory engagement," the companies said in a joint statement. Western Union and Intermex anticipate closing the transaction as soon as reasonably practicable upon receipt of the remaining approval and satisfaction of other customary closing conditions.

The deal, announced last year, combines Western Union's cross-border money movement network spanning more than 200 countries and nearly 130 currencies with Intermex's corridor strength in Latin America. Intermex, founded in 1994 and headquartered in Miami, enables consumers to send money from the U.S., Canada, Spain, Italy and Germany to more than 60 countries through agent retailers, company-operated stores, mobile apps and websites.

Regulatory Path Nears the Finish Line

The approval tally covers all 50 states plus the District of Columbia and U.S. territories, with only New York remaining. The New York State Department of Financial Services, one of the most stringent money transmission regulators in the country, has been the final gatekeeper for numerous fintech and payments deals in recent years.

Intermex reported $122 million in revenue for the first quarter of 2026, down 1.75 percent from the same period a year earlier. The company's shares traded at $13.31, down 10 percent over the past week, giving it a market capitalization of about $402 million. Western Union shares rose 2.99 percent to $7.24 on Tuesday.

What the Deal Means for the Remittance Market

The acquisition consolidates two of the largest players in the U.S.-to-Latin America remittance corridor, a market that has seen increasing competition from digital-first rivals including Wise PLC and Remitly Global Inc. Western Union's vast retail network — hundreds of thousands of locations globally — combined with Intermex's digital and agent-based platform creates a combined entity with significant scale across both physical and digital channels.

Western Union's goal is to offer accessible financial services that help people and communities prosper, and the Intermex acquisition is expected to accelerate its digital transformation while expanding its reach in key remittance corridors. The companies have not disclosed a specific closing date but said they expect to finalize the transaction as soon as the NYDFS approval is received.

This article is for informational purposes only and does not constitute investment advice.