SANTA CLARA -- Arista Networks will be introduced to Wall Street on Friday morning as a company already worth $2.75 billion, after the switch expert pushed its IPO price higher at the last minute.

The networking-equipment company priced its first batch of shares at $43, bringing in at least $225 million at a valuation that would give it a top-ten market capitalization among Silicon Valley networking companies. Arista could add to that figure when it begins trading Friday morning on the New York Stock Exchange under the ticker symbol ANET.

Arista specializes in network switches, creating high-end equipment first desired by high-speed traders but now needed by a range of companies dealing with cloud computing, big data and heavy mobile usage. Sales grew 86 percent to $361.2 million in 2013, and the company has maintained profitability for three years running.

Arista was the third startup launched by Sun Microsystems cofounder Andy Bechtolsheim and Stanford computer science professor David Cheriton, who paired with Chief Technology Officer Ken Duda to start the company nine years ago. Cheriton holds the largest stake in Arista Networks, 22.3 percent, yet left the board in March as Optumsoft -- his networking-software startup that worked closely with Arista in their younger years -- filed a lawsuit against Arista focusing on software used in the newly public company's offerings.

Arista competes with Silicon Valley networking giants Cisco System and Brocade, as well as other switch-focused companies such as Extreme Networks. The company has knowledge of its largest rival at the helm, with former Cisco executive Jayashree Ullal serving as CEO since 2008 and holding 11.7 percent of Arista after the IPO.


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Arista Networks sold all 5.25 million shares included in the IPO, and the company's underwriting banks have access to an additional cache of almost 800,000 shares. The discussions of whether to exercise that right could take awhile: Arista listed 17 underwriters on the offering, nearly the triple the total of listed banks on the upcoming Alibaba IPO.

Contact Jeremy C. Owens at 408-920-5876; follow him at Twitter.com/jowens510.