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

[Bloodyvalley]

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.

 

 

Can't wait for this company to actually be reliable

 

 

http://www.techpowerup.com/196971/ocz-technology-gets-court-approval-to-sell-its-ssd-assets-to-toshiba.html

[Tmh85]

I was thinking about investing 5 dollars into OCZ which for one share is like 0.050 of a dollar

[AlwaysFSX]

I think a Toshiba SSD would be amazing

[Scheer]

I think a Toshiba SSD would be amazing

 

I was under the impression that they already made them, just looking to expand. http://www.toshiba.com/us/int-storage

 

Unless they are just rebranded or something.

[AlwaysFSX]

I was under the impression that they already made them, just looking to expand. http://www.toshiba.com/us/int-storage

 

Unless they are just rebranded or something.

With OCZ tech they'll probably make them better

[R4STABAN]

Poor toshiba

[Fetzie]

I was under the impression that they already made them, just looking to expand. http://www.toshiba.com/us/int-storage

 

Unless they are just rebranded or something.

 

This means that Toshiba gets access to the Indilinx controller, for example.