Private US security firm Xe, formerly known as Blackwater International, has been bought by a group of investors, they announced on Friday.
New York-based USTC Holdings said it will acquire Xe and its core operating subsidiaries, but did not disclose the price or terms of the agreement in a statement.
USTC Holdings is an investor consortium led by private equity firms Forte Capital Advisors and Manhattan Partners.
Xe’s current owner Eric price, will sell his entire stake in the company and “will not be involved in the management or operation of the company,” USTC Holdings said.
“The company going forward will be managed by a board appointed by the equity owners which will include independent, unaffiliated directors.”
The New York Times reported Friday the sale came after the State Department threatened to stop awarding contracts to the company as long as it was owned by Prince, a former Navy SEAL.
The company, once the best known security contractor in Iraq and Afghanistan, has come under pressure since Blackwater guards were accused of killing 17 civilians in Baghdad in 2007.
Prince put the company up for sale in June and moved his family to Abu Dhabi.
The Times said people involved in the negotiations said the sale was worth 200 million dollars, but Prince will receive payments into the future depending on the company’s financial performance.
A lead investor is Jason De Yonker of Forte Capital Advisors, who helped Prince develop a business plan after he founded the company in 1997, and negotiated its first training contracts.
Trump’s lies and deception are catching up to all of us as the stock market posts ‘worst point drop ever on record’
In a muddled, dishonest, rambling news conference from the White House press briefing room, President Donald Trump for over an hour talked to reporters Wednesday evening about coronavirus in an attempt to stave off three days of market near-collapse. He lied. He twisted the truth. He displayed little grasp of basic facts. He didn’t let the experts run the show.
He instilled no confidence Wednesday night. In fact, the DOW futures dropped as Trump began speaking:
Dow Futures dropped when Trump said the market fell 2k points because of the Dem debate pic.twitter.com/cvbviB2l9a
‘People’s lives will be lost’: Psychiatrist warns ‘sociopath’ Trump is ‘getting worse’ — and failing in coronavirus response
President Donald Trump's psychological problems are getting worse and could be consequential as America faces a potential COVID-19 coronavirus pandemic.
MSNBC's Lawrence O'Donnell on Thursday interviewed Dr. Lance Dodes, a former assistant clinical professor of psychiatry at Harvard Medical School.
"As you pointed out, Lawrence, this man is about himself. He really is not about the country, he's not about public health," Dr. Dodes said of Trump.
"Although he has already severely damaged the country by being a psychopath or sociopath -- in many ways, he's damaged democracy -- I think people's lives will be lost now," he warned. "Individual lives will be lost because of the way he's mishandling the coronavirus issue."
‘Something really rotten’: Here’s the evidence of extensive voter suppression in Georgia’s notorious 2018 election
As the 2020 presidential campaign cycle grinds on, there’s renewed concern about the 21st century’s newest form of warfare: cyber-sabotage of government systems, including elections and online disinformation intended to incite unrest. But as Suppressed: The Fight to Vote, a documentary from Brave New Films, makes clear, partisan voter suppression tactics with 20th-century roots remain and can thwart multitudes of voters from changing their state’s political leaders.