GeoReferenced an Image in ArcGIS and it will NOT read properly into Global Mapper?

I have an image from a publication that was geo-referenced using Lat/Long WGS84 (like I have done a hundred times before in ArcGIS). I was sharing that georeferenced image with a colleague who was using Global Mapper (older version ~11.2) and none of the images properly located themselves (supposed to be offshore Peru and they are all ending up offshore Ghana and Nigeria).  It seems that global mapper would not read the .tfwx and .aux.xml correctly. No idea why? The version could be too old. I have noticed on other GIS programs as well for example QGIS also does not ready the location correctly and also places the ArcGIS image in West Africa instead of South America. 

Has anyone else experienced problems sharing Georeferenced images from ArcGIS to global mapper or any other GIS programs? 

Standard Geo-Referencing.
  1. Blank ArcGIS .mxd v10.4
  2. Setup lat/long graticules for the reference frame to match the image and pick the points
  3. Use the default of the 1st order polynomial affine and it fits perfectly everytime in ArcGIS in any version.
Screen capture example in Global Mapper 

Answers