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#Business

Toshiba acquires ailing OCZ for $35M

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Toshiba has agreed to take over OCZ’s client and enterprise solid state drive businesses for $35 million.

OCZ, which was already ailing for over a year now and having declared bankruptcy just last week, revealed through a press release that it “has signed an asset purchase agreement with Toshiba Corporation”, through which the Japanese tech giant will “acquire substantially all of OCZ’s assets in a chapter 11 bankruptcy proceeding for $35M.”

Through this deal Toshiba is set to gain not only the client and enterprise SSD businesses of OCZ, but will in fact also gain access to “OCZ’s proprietary controllers, firmware and software, as well as the teams responsible for bringing these solutions to market, in addition to OCZ’s established brand and sales channels.”

During the transition OCZ will continue supporting its existing as well as future customers, but the company hasn’t made it clear whether it will continue to do so after the transition is complete.

Toshiba does have the technology for SSDs, but OCZ’s technology is something that helped the latter to garner a lot of customer base through the range of useful products. We expect Toshiba to add its two cents worth to OCZ’s tech and bring out consumer level and enterprise class products at affordable rates.