Arista Networks files IPO papers, hopes to raise $200M
Arista Networks, an emerging switching vendor focused on large data center and computing environment opportunities, filed papers to conduct an initial public offering to raise up to $200 million, reports Reuters.
However, the company did not specify how many shares it wanted to sell or the price of each share in its filing.
Arista may be a relative newcomer in the switching space, but it continues to gain customer momentum.
The vendor counts a number of large service providers and data center providers like SingTel and Equinix (Nasdaq: EQIX) as some of its customers. Just last week, Equinix announced that it selected its 7500E platform for a data center to provide its customers 100 Gigabit Ethernet services, for example.
Despite its growing presence in the data center service market, the data center market is a very competitive market where large competitors like Cisco continue to be a growing factor. Cisco reported that its data center business rose 4 percent in its fiscal second quarter to $511 million.
- Reuters has this article