Andreas "Andy" Von Bechtolsheim, co-founder of Arista Networks Inc., speaks during a Bloomberg West television interview in San Francisco, California, U.S., on Thursday, May 2, 2013.
Andy Bechtolsheim, the co-founder of Sun Microsystems and Arista Networks , has reached a settlement with the SEC on insider trading charges that will cost him close to $1 million and bars him from serving as a public company officer or director for five years.
Cisco announced its agreement to buy networking company Acacia for $70 per share in a $2.6 billion deal, driving Acacia's stock up 35%.
"While the SEC announcement did not involve any trading in Arista securities, Arista takes compliance to the company's code of conduct and insider trading policy seriously," an Arista spokesperson told CNBC in an email.
Bechtolsheim, who lives in Incline Village, Nevada, co-founded Arista in 2004 and took the company public a decade later.
Persons:
Andreas, Andy, Von Bechtolsheim, Andy Bechtolsheim, Bechtolsheim, Bechtolsheim confidentially, didn't, Scott McNealy, Vinod Khosla, Bill Joy
Organizations:
Arista Networks Inc, Bloomberg West, Sun Microsystems, Arista Networks, SEC, Acacia Communications, Cisco, Arista, Acacia, Bechtolsheim, CNBC, Oracle, Sun
Locations:
San Francisco , California, U.S, San Jose , California, Incline Village , Nevada