Cloud-networking software producer Arista Networks has paid an undisclosed amount to acquire US-based peer Big Switch Networks, allowing computing equipment maker Dell and semiconductor technology producer Intel to exit, SDX reported on Wednesday.
Big Switch provides technology that supports public, enterprise and multi-cloud environments, facilitating data centre-switching, monitoring and security. Its co-founders included members of the Stanford University team that invented software-defined networking.
Although Arista was the successful bidder, it beat out a number of prospective buyers including Dell, one of several companies that held multiple meetings with Big Switch over the past few months, a source told SDX.
The company had raised approximately $124m pre-acquisition, most recently taking $30.7m in a 2017 round that included Dell subsidiary Dell Technologies Capital as well as Dell founder and CEO Michael Dell’s investment vehicle, MSD Capital, and Intel unit Intel Capital.
Silverlake Waterman, Index Ventures, Morgenthaler Ventures, Redpoint Ventures and Khosla Ventures also took part alongside unnamed additional backers including individual investors.
MSD Capital, Morgenthaler Ventures, Silver Lake Waterman, Index Ventures, Khosla Ventures and Redpoint Ventures had previously contributed to Big Switch’s $48.5m series C round the previous year with networking and communications technology provider Accton and CID Group.
Intel Capital invested $6.5m in the company’s $31.5m series B round, which closed in 2013 and which included investment banking firm Goldman Sachs, Redpoint Ventures and existing investors Khosla Ventures and Index Ventures.
