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

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsbusiness issuesmemorystorageSSDtoshibaComponentsDrivesOCZ Storage Solutions

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Martyn Williams

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?