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The company, based near the North Carolina coast in Moyock and formerly known as Blackwater, has announced that it is pursuing a sale.
The private company, which provides guards and services to the U.S. Government, has faced a mountain of criticism in recent years over incidents in Iraq in which dozens of people were killed. The company changed its name and worked to improve its image to little avail.
Read more: Blackwater or Xe ... it’s for sale - Triangle Business Journal
"Performance doesn't matter in Washington, just politics," company founder Erik Prince said in a statement.
It is expected to take several months to find a buyer. The offering comes months after Xe sold its aviation division for $200 million to Wood Dale, Ill.-based AAR Corp.