Toshiba pays $35 million for assets of bankrupted OCZ

jmke · 3rd December 2013, 07:15

Just a few days after announcing that it was filing for bankruptcy, solid-state storage manufacturer OCZ has confirmed that it will be selling its assets to Toshiba for $35 million. According to the release, Toshiba will be acquiring "OCZ's client and enterprise solid state drive business" and that the sale is expected to close "within approximately 60 days." Toshiba will also be providing OCZ with the funding it needs to buy up NAND and support "existing and future customers" during the transitional period.

The purchase nets Toshiba every single part of OCZ, most crucially its "proprietary controllers, firmware, and software, as well as the teams responsible for bringing those solutions to market." In other words, Toshiba will now own all of OCZ's tech and the people responsible for developing it, as well as OCZ's "established brand and sales channels."

http://arstechnica.com/gadgets/2013/...ankrupted-ocz/

3rd December 2013, 07:15	#1
jmke Madshrimp Join Date: May 2002 Location: 7090/Belgium Posts: 79,021	Toshiba pays $35 million for assets of bankrupted OCZ Just a few days after announcing that it was filing for bankruptcy, solid-state storage manufacturer OCZ has confirmed that it will be selling its assets to Toshiba for $35 million. According to the release, Toshiba will be acquiring "OCZ's client and enterprise solid state drive business" and that the sale is expected to close "within approximately 60 days." Toshiba will also be providing OCZ with the funding it needs to buy up NAND and support "existing and future customers" during the transitional period. The purchase nets Toshiba every single part of OCZ, most crucially its "proprietary controllers, firmware, and software, as well as the teams responsible for bringing those solutions to market." In other words, Toshiba will now own all of OCZ's tech and the people responsible for developing it, as well as OCZ's "established brand and sales channels." http://arstechnica.com/gadgets/2013/...ankrupted-ocz/ __________________

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
India demands IBM pays $866.20 million	Stefan Mileschin	WebNews	0	5th November 2013 07:03
Toshiba AT10LE-A tablet (Nvidia Tegra 4-powered) pays a quick visit to the FCC	Stefan Mileschin	WebNews	0	23rd May 2013 06:43
Apple pays $20 million for clock design	Stefan Mileschin	WebNews	0	12th November 2012 08:27
Sprint pays US Cellular $480 million for Midwest spectrum and customers	Stefan Mileschin	WebNews	0	8th November 2012 06:38
Facebook allowed to triple size of its HQ, pays $10 million for the privilege	Stefan Mileschin	WebNews	0	31st May 2012 07:43
WD Completes Divestiture Of Assets To Toshiba Corporation	Stefan Mileschin	WebNews	0	16th May 2012 06:35
Facebook pays Microsoft $550 million	Stefan Mileschin	WebNews	0	25th April 2012 06:23
WD Reaches Agreement With Toshiba Corporation to Divest Certain 3.5-inch HDD Assets	Stefan Mileschin	WebNews	0	29th February 2012 07:22
Facebook pays $65 million to ConnectU	jmke	WebNews	0	11th February 2009 19:30
Microsoft pays IBM $775 million to settle suit	Sidney	WebNews	2	1st July 2005 18:22