Given the green light by the United States Bankruptcy Court for the District of Delaware earlier this week, Toshiba announced that it has finalized the purchase of all assets of the OCZ Technology Group, making it owned subsidiary of Toshiba Group Company.
According to the details announced by both the OCZ and Toshiba, the deal provides Toshiba with OCZ's enterprise and client SSD businesses and enables the established OCZ brand to continue in full force with the current product portfolio that includes SATA and PCIe consumer drives for high-performance and mainstream applications, and SATA, SAS and PCIe enterprise drives supported by virtualization, cache and acceleration software.
Mr. Seiichi Mori, Vice President of Toshiba's Semiconductor and Storage Company and Corporate Vice President of Toshiba noted that the acquisition of OCZ will further expand Toshiba's solid-state storage capabilities and represents Toshiba's commitment to that high-growth area and that the acquisition of OCZ is an ideal addition in realizing this strategy. Ralph Schmitt, CEO of OCZ Storage Solutions, expressed his and company's excitement to be a part of the Toshiba family and their commitment to develop new and unique solid-state storage technologies. Ralph Schmitt added that with Toshiba's financial strength and portfolio of NAND flash memory puts OCZ in advantageous position with advanced controller IP and NAND flash supply under one global organization.
It will certainly be interesting to see how big competition will OCZ Storage Solutions now be for big SSD players like Intel and Samsung.