OCZ in Agreement With Toshiba on Acquire Solid State Drive Business

Discussion in 'Frontpage news' started by Hilbert Hagedoorn, Dec 3, 2013.

  1. Hilbert Hagedoorn

    Hilbert Hagedoorn Don Vito Corleone Staff Member

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  2. V@IO

    V@IO Master Guru

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    Good news for OCZ
     
  3. Clouseau

    Clouseau Ancient Guru

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    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
     
  4. Anarion

    Anarion Ancient Guru

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    Bargain.
     

  5. icedman

    icedman Master Guru

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    Im just glad ocz will continue to make ssd's, own 2 and they're awsome
     
  6. Clouseau

    Clouseau Ancient Guru

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    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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