OCZ Gets Approval to Sell SSD Assets to Toshiba

OCZ Logo

At the beginning of December Toshiba reached an agreement with OCZ to buy their SSD assets and the United States Bankruptcy Court for the District of Delaware has put its stamp of approval on the case regarding OCZ (maker of SSDs and power supplies mainly) to sell off its SSD division and assets to rival storage manufacturer Toshiba. The transaction is expected to close within the next week. Toshiba will be buying the SSD assets for the sum of $35 million and here is what Ralph Schmitt, CEO of OCZ said about the ruling,

“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.”

How can OCZ’s acquisition to Toshiba be a win for the consumers?

Now the questions is what will this do to help the OCZ brand (assuming Toshiba keeps the name) and I would think it will only improve the SSD line that OCZ has build the past few years. Toshiba will be able to put more money in R&D and combine it with its own flash NAND technology with all the patents and designs they are getting from OCZ. This could be something to watch in the future considering how well Samsung does in the SSD market and now with the full force of a huge company such as Toshiba a solid but not always great SSD maker.

More information is expected after the deal closes and OCZ is also now going to start the process of selling off its power supply business.

 

OCZ Sells Assets to Toshiba

OCZ Vertex SSD


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