Friday, January 17th 2014

OCZ Technology Gets Court Approval to Sell Its SSD Assets to Toshiba

OCZ Technology Group, Inc., a leading provider of high-performance solid state drives (SSDs) for computing devices and systems, today announced that the Company received approval by the United States Bankruptcy Court for the District of Delaware to sell substantially all of its assets to Toshiba Corporation. The transaction is expected to close within the next week, subject to the satisfaction or waiver of other customary closing conditions under the Asset Purchase Agreement. With this asset purchase, the popular OCZ SSD brand supporting a complete portfolio of enterprise and consumer drives continues in full force leveraged by Toshiba's financial strength and its portfolio of NAND flash memory.

"We are pleased by the court's approval as this business combination allows the company to continue to bring to market disruptive solid state storage technology. We are appreciative of all the support provided by our shareholders, creditors, and vendors which allowed this combination to occur," said Ralph Schmitt, CEO for OCZ Technology. "The OCZ team is excited to be a part of an innovative company like Toshiba where we can continue to develop new and unique SSD technologies that position the Company as a solid state solutions leader in both the client and enterprise storage markets."

The Company is also in the process of going through a bidding procedure for the power management business and expects to close a transaction within the next few weeks. More information regarding the acquisition of its SSD assets and the transition to a Toshiba company will be forthcoming in the future.
Add your own comment

11 Comments on OCZ Technology Gets Court Approval to Sell Its SSD Assets to Toshiba

#1
ssdpro
This is good for competition. OCZ backed by Toshiba is a win for OCZ, Toshiba, and consumers not to mention the enterprise segment. Toshiba NAND is top quality and now OCZ will have all they need.

So when do we see the long awaited Revodrive 400?
Posted on Reply
#2
Blue-Knight
by: ssdpro
Toshiba NAND is top quality
I doubt it, my current experience with TOSHIBA is disappointment.

But I can still change my mind. Who knows...
Posted on Reply
#3
Jorge
They are buying the assets of a sinking ship. Not much to buy really as OCZ hasn't had any special tech advantage.
Posted on Reply
#4
FreedomEclipse
~Technological Technocrat~
by: Blue-Knight
I doubt it, my current experience with TOSHIBA is disappointment.

But I can still change my mind. Who knows...
I dunno about their RMA's but i have 5 toshiba HDDs now (i bought another... 2x3TB main pc 2x3TB Nas 1x3TB external storage) still all working perfectly - I was gonna say 'still all ticking..' but the irony...

the drives i have in my NAS are probably past the 6 month usage mark with the ones on my pc probably a week or 2 behind. NAS is light to medium usage. I guess PC is around the same as BF3 & BF4 are located on my SSD.

by: Jorge
They are buying the assets of a sinking ship. Not much to buy really as OCZ hasn't had any special tech advantage.
Not really. OCZ still has Indilinx - thats gotta be worth something for Toshiba who usually use controllers made by Marvell. Since Toshiba use Marvell controllers (& sandforce too), that makes some of their SSDs almost identical to Plextor M5 Pro's, though performance may differ due to Toshiba using their own memory chips. Anything thats comparable to an M5 Pro is quite an achievement as the M5 Pro is quite an underrated drive.
Posted on Reply
#5
tigger
I'm the only one
by: Blue-Knight
I doubt it, my current experience with TOSHIBA is disappointment.

But I can still change my mind. Who knows...
I'm using a Toshiba 256gb ssd and it has been fine.
Posted on Reply
#6
Deadlyraver
OCZ will be a worthy companion of Toshiba, they need it for what lies ahead too.

I always had a feeling OCZ would end up merging with somebody.
Posted on Reply
#7
Blue-Knight
by: Deadlyraver
I always had a feeling OCZ would end up merging with somebody.
That's common. The smaller companies always get "eaten" by bigger competitors.

My question is: Who's next?
Posted on Reply
#8
FreedomEclipse
~Technological Technocrat~
by: Deadlyraver
OCZ will be a worthy companion of Toshiba, they need it for what lies ahead too.

I always had a feeling OCZ would end up merging with somebody.
by: Blue-Knight
That's common. The smaller companies always get "eaten" by bigger competitors.

My question is: Who's next?
Understand that OCZ wasnt 'eaten' by Toshiba. OCZ would have ceased to exist if Toshiba didn't buy out that part of the business
Posted on Reply
#9
Blue-Knight
by: FreedomEclipse
OCZ would have ceased to exist if Toshiba didn't buy out that part of the business
Ah, ok. It was "eaten" few seconds before die... As your imagination suggests...
Posted on Reply
#10
FreedomEclipse
~Technological Technocrat~
I dunno, i tend to refer to the word 'eaten' as a complete take over of a company. Only the ssd division of OCZ was acquired
Posted on Reply
#11
Blue-Knight
by: FreedomEclipse
Only the ssd division of OCZ was acquired
Ah, ok. Just a slice of it was "eaten". Who's gonna "eat" the others left?...
Posted on Reply
Add your own comment