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Agillion Software Runs Into Trouble

March 15, 2001 GMT

AUSTIN,Texas (AP) _ Software company Agillion Inc. has laid off 25 of its 45 employees and put itself up for sale, in another sign that the technology-sector shakeout has not yet run its course.

Agillion made software to let small businesses manage and communicate with their customers using personalized Web pages.

Just two years ago, Agillion spent heavily to promote itself on the Super Bowl broadcast and sent employees on an expenses-paid trip to Cabo San Lucas in Mexico.

But the company was unable to raise the $30 million it wanted to keep operating, executives said.

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``We’re all disappointed we couldn’t get the funding closed,″ said James Travers, who took as head of Agillion in November after founder Steve Papermaster stepped down. ``The focus now has to be on recovering the value of what was built.″

Travers said he would resign Friday. Papermaster, still a board member, will help oversee the company’s sale.