ASP Applicast Files For Chapter 11 Bankruptcy Protection
February 01, 2002 11:41 AM ET
Applicast, the Siebel and SAP ASP subsidiary of Agilera, filed for Chapter 11 bankruptcy protection.
The ASP said the disappearance of its new economy customers and the current financial climate led it to seek bankruptcy protection, pending a financial restructuring.
Agilera bought Applicast in December 2000. The ASPs had similar vertical market focuses and application offerings.
In May 2001, Agilera restructured in the hopes of reaching profitability. At the time, the ASP consolidated its operations into seven metropolitan locations and company CEO Paul Rudolph stepped down and was replaced by Robert Unger.
Many ASPs that opted to host packaged ERP and CRM applications are either out of that business or are also struggling financially. Interliant chose to sell of its CRM and ERP practices last year, and USinternetworking filed for Chapter 11 last month but said it expects to emerge from bankruptcy this spring.
Agilera was formed in February 2000 by Ciber and Verio. In September 2001, Verio, which is a subsidiary of Tokyo-based NTT Communications, laid off 25 percent of its 3,000 employees and consolidated its data centers.
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