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Former Blackwater Ditches Xe for Yet Another Name. Xe Services. Academi is a private security services provider founded in 1997 by Erik Prince.[2][3] Formerly and still popularly known as Blackwater,[4] the company was renamed "Xe Services" in 2009, and "Academi" in 2011.[5] The company was purchased in late 2010 by a group of private investors who changed the name to Academi and instituted a Board of Directors and new Senior Management.
Erik Prince retained the rights to the name Blackwater and has no affiliation with Academi. The company received widespread publicity in 2007 when a group of its employees shot at Iraqi civilians killing 17 and injuring 20 in Nisour Square, Baghdad.[6][7]