Third name for Blackwater

The controversial US private security firm once known as Blackwater is changing its name for a second time as its owners continue to reshape the company they bought from its founder a year ago.

The new name, Academi, announced yesterday, is apparently based on the ancient Greek philosopher Plato’s institution for developing thinkers and warriors.

Blackwater originally changed its name to Xe Services in 2009 as it battled allegations that its guards in Iraq were too quick to shoot after an incident involving the death of Iraqi civilians.

An investment group, USTC Holdings, bought the company a year ago, and founding CEO Erik Prince left.