Layer 7 switching startup Top Layer Networks has welcomed Cisco Systems' plans to acquire ArrowPoint Communications, despite competing in the same market.
Cisco announced earlier this month it intends to purchase switchmaker ArrowPoint for $US5.7 billion. Bruce Cohen, president and CEO of Top Layer Networks, said he "couldn't be happier" with the acquisition.
According to Cohen, since day one, Top Layer Networks has constantly been compared with ArrowPoint. "It validates what we're doing," Cohen said.
"It also delays the progress of what ArrowPoint was doing and gives us the opportunity to strengthen our product offering. I don't cherish competing with Cisco, but there are plenty of opportunities," he said.
Top Layer Networks, which launched in Asia-Pacific in February, has "grown extensively this year", Cohen said. The company's worldwide customer list has grown from just 10 at the end of 1999, to 66 currently, and it is expected to grow to 100 by the end of June.
According to Cohen, Top Layer is close to completing its fourth round of financing and expects to raise $US360 million. Following in the footsteps of ArrowPoint, Cohen said Top Layer is hoping to list on the Nasdaq late this year or early next year.
"We are right on track. We are hitting the numbers we expected we would hit," he said.
Meanwhile, Alex Turkington, area vice president for Asia-Pacific, said local operations for the company have grown significantly since launching. Several customers, including AC Nielsen, have adopted Top Layer technology, and several pilot programs are underway, he said.
Additionally, Turkington also announced that Marie Leighton has been appointed country manager for Australia and New Zealand, while a systems engineer is due to come on board shortly.