Ariba, Agile call it off

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Mountain View, Calif.--Once high-flying Internet e-commerce company Ariba Inc. called off its $2.55 billion deal to acquire Agile Software Corp. and has plans to cut about 700 of its 2,100 employees. The one-time bellwether of Internet boom times, Ariba was counting on the acquisition of San Jose-based Agile to push it into the so-called collaborative manufacturing space. Today, Ariba specializes in procurement services for indirect goods, which are supplies that are not essential to the actual products or services a company sells. Ariba's stock has been clobbered since the deal was announced in January, sinking from around $40 to less than $5 a share at deadline Tuesday.
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