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OCZ in Agreement With Toshiba on Acquire Solid State Drive Business
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Hilbert Hagedoorn
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Default OCZ in Agreement With Toshiba on Acquire Solid State Drive Business - 12-03-2013, 08:19 | posts: 21,367 | Location: Guru3D testlab

Good news for OCZ, as they will soon fall under Toshiba. That will secure good NAND supplies in the future and it would make the company able to finally compete with names like Samsung.Â*OCZ Technolog...

OCZ in Agreement With Toshiba on Acquire Solid State Drive Business
   
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Default 12-03-2013, 09:24 | posts: 490 | Location: 30.0000° S, 25.0000° E

Good news for OCZ
   
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Default 12-03-2013, 20:34 | posts: 459

Toshiba Corporation to Purchase Assets of OCZ







Toshiba Corporation to Purchase Assets of OCZ

Business Wire

TOKYO -- December 2, 2013

Toshiba Corporation (TOKYO:6502) today announced that it has entered into an
agreement at December 2 with OCZ Technology Group, Inc. to acquire
substantially all the assets of OCZ Technology’s SSD business. The transaction
will be completed through a sale and auction process pursuant to Section 363
of the U.S. Bankruptcy Code, and subject to approval by the bankruptcy court
supervising OCZ Technology’s Chapter 11 bankruptcy. If Toshiba is selected as
the successful bidder, subject to court and other regulatory approvals, the
company expects to complete the acquisition in January 2014.

“We are excited to participate in this opportunity. 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 Mr. 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.”

About Toshiba

Toshiba is a world-leading diversified manufacturer, solutions provider and
marketer of advanced electronic and electrical products and systems. Toshiba
Group brings innovation and imagination to a wide range of businesses: digital
products, including LCD TVs, notebook PCs, retail solutions and MFPs;
electronic devices, including semiconductors, storage products and materials;
industrial and social infrastructure systems, including power generation
systems, smart community solutions, medical systems and escalators &
elevators; and home appliances.

Toshiba was founded in 1875, and today operates a global network of more than
590 consolidated companies, with 206,000 employee worldwide and annual sales
surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at
www.toshiba.co.jp/index.htm

Contact:

Toshiba Corporation
Semiconductor & Storage Products Company
Megumi Genchi / Kota Yamaji, +81-3-3457-3576
Communication IR Promotion Group
Business Planning Division
semicon-NR-mailbox@ml.toshiba.co.jp
   
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Default 12-03-2013, 20:54 | posts: 11,007 | Location: Finland

Bargain.
   
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icedman
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Default 12-08-2013, 06:27 | posts: 239 | Location: canada

Im just glad ocz will continue to make ssd's, own 2 and they're awsome
   
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Default 12-08-2013, 19:27 | posts: 459

The banckruptcy court has not settled anything yet. Only if the Toshiba deal is approved will OCZ still be in existence. Nothing has come out in the press since these last press releases from OCZ and Toshiba.
   
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