updated 09:40 pm EDT, Mon March 14, 2011
Deal said to be worth $32 million
OCZ Technology has announced that it is set to acquire Indilinx, a South Korea-based company that specializes in SSD controllers. Indilinx controllers have been present in some of OCZ's SSD lineup since late in 2008, including the Z-Drive series of PCIe-based drives. OCZ suggests the buyout will help the company expand its reach into the embedded, hybrid storage and industrial markets.
Although OCZ will gain Indilinx' intellectual property, which includes approximately 20 patents and pending applications, the latter company will continue to produce and distribute its existing controller products to other SSD manufacturers. OCZ also noted that it will continue to purchase controllers from separate companies, such as SandForce.
The terms of the buyout include $32 million worth of OCZ stock, bringing Indilinx a 9.5 percent stake in the company. The deal is expected to be closed within 30 days, pending regulatory approvals and resolution of other minor issues. [via PC Perspective]