Chambers was speaking at an event in South Korea, and told Bloomberg that Cisco "moves very rapidly on acquisitions. If we were going to be in an area, we would probably have already moved."
His comments come as Sun looks to move beyond a failed acquisition deal with IBM. The two companies had reportedly been in the late stages of a deal thought to be worth as much as $7bn when talks broke down after fears of possible anti-trust actions.
Many observers then speculated that Cisco could be a possible suitor for Sun. The company is thought to have stocked away large cash reserves, and has developed a reputation for making acquisitions in recent years.
Cisco is also in the midst of transforming and expanding its profile within the IT world. Once known solely as a maker of networking equipment, Cisco has expanded its operations to include unified communications, IT management and consumer electronics operations.
French firm Blade offers a Windows 10 PC in the cloud, but is it good enough for high-end gaming?
Research into indium gallium phosphide could result in more powerful - and cheaper - electronic devices
Federal government to help US states improve their election infrastructure security
Acton's warnings come as Facebook is embroiled in one of the biggest data scandals in history