Featured Articles

Intel refreshes CPU roadmap

Intel refreshes CPU roadmap

Intel has revealed an update to its CPU roadmap and some things have changed in 2015 and beyond. Let’s start with the…

More...
Hands on: Nvidia Shield Tablet with Android 5.0

Hands on: Nvidia Shield Tablet with Android 5.0

We broke the news of Nvidia's ambitious gaming tablet plans back in May and now the Shield tablet got a bit…

More...
Nokia N1 Android tablet ships in Q1 2015

Nokia N1 Android tablet ships in Q1 2015

Nokia has announced its first Android tablet and when we say Nokia, we don’t mean Microsoft. The Nokia N1 was designed…

More...
Marvell launches octa-core 64-bit PXA1936

Marvell launches octa-core 64-bit PXA1936

Marvell is better known for its storage controllers, but the company doesn’t want to give up on the smartphone and…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 28 November 2013 04:53

OCZ Filing for Bankruptcy

Written by Rob Squires



Toshiba to pick up the pieces

According to the Wall Street Journal website MarketWatch.com, it appears that SSD manufacturer OCZ Technology is on it's way to filing for bankruptcy. OCZ announced today that that on earlier this week it had received notices that Hercules Technology Growth Capital, Inc. had taken control of their depository accounts at Silicon Valley Bank and Wells Fargo Bank.

An offer from Toshiba to acquire all of OCZ's assets in a bankruptcy proceeding is currently on the table, pending approval by the courts.  If the offer is not accepted by the courts, it can be expected for a petition for bankruptcy to be filed and liquidation of all assets to follow.

OCZ stock price has fallen close to 75% so far this year from a trading high of $10.94. At the close of the market on Wednesday, shares were priced at 16 cents.

Last modified on Thursday, 28 November 2013 09:14

Rob Squires

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments