The security firm formerly known as Blackwater is looking for new ownership.
The North Carolina-based company now called Xe Services announced its decision to pursue the sale in a brief statement Monday.
Xe says it has made significant changes to the company over the past 15 months that will enhance its value to a prospective buyer.
Under the name Blackwater, the company became well-known for providing guards and services to the U.S. military.
It's been trying to rehabilitate its image since a 2007 shooting in Baghdad that killed 17 people and led to federal charges against several Blackwater guards.
In February, Xe sold its aviation division for $200 million in a bid to strengthen its balance sheet.