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.

In its IPO filing, Arista, whose rivals are Cisco Systems (Nasdaq: CSCO) and Juniper Networks (NYSE: JNPR), listed Morgan Stanley and Citigroup as its lead underwriters.

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.  

For more:
- Reuters has this article

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