Toshiba Corporation will acquire substantially all the assets of OCZ Technology’s SSD business.
Subject to court and other regulatory approvals, the company expects to complete the OCZ acquisition in January 2014.
Founded in 2002, California-based OCZ Technology Group has built on its expertise in high-speed memory to become a global leader in the design and manufacturing of industry-leading solid state drives (SSDs).
However, the company was not in compliance with certain of the operating ratios and covenants in its loan agreement and filed for bankruptcy in November this year.
“If our bid is successful, the combination of our leading NAND technology with OCZ’s SSD expertise will allow us to further strengthen Toshiba’s SSD business,” said Seiichi Mori, Vice President of Toshiba’s Semiconductor and Storage Company and Corporate Vice President of Toshiba.
“We value OCZ’s SSD business and technology in both the consumer and enterprise markets, and we are confident that it will reinforce our capabilities and help us to secure leadership in the SSD market.”
“OCZ looks forward to becoming part of Toshiba, a world leader in flash memory and storage solutions,” explained Ralph Schmitt CEO of OCZ Technology.
“Toshiba brings the necessary capital and NAND flash supply and expertise, which together with our leading edge solid state drive technology will enable us to provide client and enterprise customers with a very compelling total storage solution. This combination will make for an unstoppable force in the highly competitive SSD market."
0 comments :
Post a Comment