Menu
Toshiba completes acquisition of OCZ Storage

Toshiba completes acquisition of OCZ Storage

The Silicon Valley SSD maker is now part of Toshiba but will continue to operate independently

Toshiba has completed its acquisition of OCZ Storage Solutions, a failed Silicon Valley maker of solid-state drives, the company said Tuesday.

Solid-state drives are storage components built with flash memory that are intended to replace spinning disks in laptops, desktop computers and servers. They offer lower power consumption and better performance but are typically more expensive per gigabyte than hard drives.

OCZ said in November last year that it had defaulted on a loan agreement after its business was hit because it was having trouble buying enough flash memory chips for its drives.

Revenue had fallen to US$33.5 million in its most recent quarter, down from $88.6 million in the same period a year earlier. But despite the sharply lower revenue, its losses shrunk to $26.1 million from $33.2 million a year earlier.

At that time, Toshiba said it had offered to buy the company as long as it could maintain the value of its business and keep its employees.

Financial details of the acquisition were not announced.

OCZ will continue to operate independently and be based in San Jose, California. Toshiba is a major manufacturer of flash-memory chips, so it should be able to supply OCZ's SSD manufacturing operations with enough silicon.

The acquisition brings Toshiba OCZ's enterprise and client SSD customers, both markets it intends to keep serving, the company said in a statement.

Martyn Williams covers mobile telecoms, Silicon Valley and general technology breaking news for The IDG News Service. Follow Martyn on Twitter at @martyn_williams. Martyn's e-mail address is martyn_williams@idg.com


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags business issuesSSDDrivesstoragetoshibaComponentsOCZ Storage SolutionsMergers and acquisitionsmemory

Featured

Slideshows

Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Reseller News ICT Industry Awards 2017 - Meet the winners...

Reseller News ICT Industry Awards 2017 - Meet the winners...

Reseller News honoured the industry’s finest on a standout evening for the New Zealand channel, recognising the achievements of established and emerging partners on a memorable night in Auckland.

Reseller News ICT Industry Awards 2017 - Meet the winners...
Show Comments