Cisco Systems rival Arista Networks for IPO

Posted Mar 31, 2014

Arista Networks is known for making network switches for large data centers. The company has filed for an IPO today and has listed Morgan Stanley and Citigroup as the lead underwriters for the offering. Arista could potentially raise $200 million from the IPO. Arista Networks is led by former Cisco executive Jayashree Ullal. Some of the companies customers include Facebook, Comcast, Yahoo!, and Citigroup. Ullal is the CEO and is the largest shareholder in the company. Arista is going to list shares on the New York Stock Exchange with the symbol “ANET.” The company was started in 2004 by Andy Bechtolsheim and David Cheriton. Cheriton is a computer science professor at Stanford University.
[Source: Reuters]