Printed from http://www.electronista.com

Toshiba completes purchase of bankrupt manufacturer OCZ

updated 04:20 pm EST, Wed January 22, 2014

Toshiba owed the most money by defunct company, terms of deal not revealed

Toshiba has completed the process to purchase the assets of PC hardware developer OCZ. The SSD maker declared bankruptcy in the beginning of December, with Toshiba having announced its intention to purchase the troubled manufacturer nearly simultaneously. Terms of the deal were not announced.

The acquisition provides Toshiba with OCZ's enterprise and client SSD businesses, and enables the established OCZ brand to continue with a current product portfolio that includes SATA and PCIe consumer drives, as well as SATA, SAS and PCIe enterprise drives supported by virtualization, cache and acceleration software. OCZ Storage Solutions will continue to use Toshiba's NAND, and combine it with the OCZ's proprietary controllers, firmware and software.

As a Toshiba Group Company, OCZ Storage Solutions will continue to maintain its established worldwide sales channels. The new company's headquarters will remain in San Jose, California, with strategic design centers located in Irvine, CA; Tel Aviv, Israel; and Abingdon, UK.

2013 saw OCZ's revenue fall steeply from $88.6 million in the second fiscal quarter of 2012 to $33.5 million in the second fiscal quarter of 2013, while financial losses increased. The company took a loan from Hercules Technology Growth Capital at 15 percent early in 2013, and failed to pay for several months, leading to asset seizure and bankruptcy.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, if ...

Sponsor

toggle

Most Commented

 
toggle

Popular News