Toshiba to purchase OCZ Technology

Toshiba to purchase OCZ Technology

The famous maker of SSDs OCZ Technology will soon be purchased by Toshiba, the latest news says. OCZ has been going through really tough times in the past few years with the company quitting the DRAM market and focusing on development of SSDs. Even then OCZ has had difficulty in getting revenue, which eventually led the company to debts that it cannot cover anymore.

Toshiba plans to give OCZ money that the struggling SSD maker will use to pay its debts but for this money Toshiba will seize the assets of OCZ Technology. Up until this moment OCZ is under the control of Hercules Technology Growth Capital, an investment fund that has given money to OCZ. The difficulties that the company is going through have caused a sharp drop in income and share prices, although OCZ still has a number of high-profile scientists and researchers that may develop new products in a short timeframe. In order to make things more complete and ease Toshiba OCZ will file for bankruptcy too.

OCZ does not plan to release new products to market until the financial turmoil is over but if the deal with Toshiba falls through OCZ will simply cease to exist.

Source: OCZ Technology

Related posts

Android-Powered Tablet PC Introduced by IN Media

IN Media launched their IN Media Tablet PC which is powered by Google's Android 2.1 operating system, integrating all applications and media in one portable device. The IN Media Tablet PC comes equipped with a seven inch and ten inch LCD displays, and a forward facing camera. The included...

Call of Duty: Modern Warfare 3 sets new one day sales record

The folks at Activision have a reason to be very happy – their newest game – Call of Duty: Modern Warfare 3 – has reached new unseen heights. According to financial papers the company published, the recently released 3D shooter has made more than 400 million dollars in sales in a single day...

Photo Editor Pro

Tired of playing games and wasting time on Google Play? Then maybe we have something different for you. Photo Editor Pro is an application that will allow you to edit the pictures you have taken right on your Android device. It offers a long list of features that you will surely find...

Leave a comment