ABC News reports that the private security firm once known as Blackwater, wants to re-enter the Iraqi market.
The company was forced out of Iraq after a shooting incident in which 17 civilians died, and then changed its name to Xe Services in early 2009.
It is now changing its name for the second time in three years as it tries to win the right to do business in Iraq again.
CEO Ted Wright said that the latest name, Academi, was an attempt to demonstrate that the firm had become "a new company" that potential clients would find nice and "boring."
Under the name Academi, the company is working with a consulting firm to win a license to work in Iraq again. "The opportunity in Iraq is large," said Wright, "and after U.S. troops leave, commercial companies doing business in Iraq will also need our services."
Investors bought the company one year ago from founder Erik Prince. Asked whether Prince would have any relationship with the new company, Mr. Wright replied, "no, [Prince] has no involvement, ownership, or control operationally. I've never met the man."
(Source: ABC News)