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Cisco kicker heads for IPO

by on13 November 2013

Arista goes public next year

Arista Networks, which has been shaping up as rival to Cisco has selected banks to lead a proposed initial public offering for next year, according to people familiar with the matter.

Morgan Stanley, Citigroup and Credit Suisse Group will lead the offering that is at an early stage of planning. It is expected that the network switch maker could have a valuation of around $2.5 billion. Arista's 2013 revenue is likely to exceed $300 million.

Arista was started in 2004 by German-born Andy Bechtolsheim and Canadian native David Cheriton, a University of Stanford computer science professor, with $100 million in funding. Its first products were used in high frequency trading, in 2008. It has also gained traction with new uses for its products such as cloud computing, big data and software defined networking.

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