make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Former Blackwater seeks new owner


RALEIGH, N.C. -- The security firm formerly known as Blackwater is looking for new ownership.

The North Carolina-based company now called Xe (ZEE) Services announced its decision to pursue the sale in a brief statement Monday.

Xe says it has made significant changes to the company over the past 15 months that will enhance its value to a prospective buyer.

Under the name Blackwater, the company became well-known for providing guards and services to the U.S. military.

It's been trying to rehabilitate its image since a 2007 shooting in Baghdad that killed 17 people and led to federal charges against several Blackwater guards.

In February, Xe sold its aviation division for $200 million in a bid to strengthen its balance sheet.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.



The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
Please re-enter the code shown in the image below.