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RumorTT: Seagate want to acquire an SSD maker, could it still be OCZ?

RumorTT: It looks like Seagate won't be acquiring OCZ after all

| Business, Financial & Legal News | Posted: Jul 31, 2012 1:32 am

Seagate have been rumored to be looking at scooping up an SSD maker, where it piled up into a RumorTT post regarding Seagate acquiring OCZ. The news flared up again this week with tech blog side the Bright Side of News reporting that the deal between the companies was "done". But, it appears that it is not actually done and that Seagate might not acquire OCZ at all, at least, not right now.

 

TweakTown image news/2/5/25074_01_rumortt_seagate_want_to_acquire_an_ssd_maker_could_it_still_be_ocz.jpg

 

Since the BSN post, OCZ shares jumped up 30-percent on Friday, and up 66-percent since mid-July all based on speculation that Seagate were to acquire the company. But, it looks like those highs are over, and OCZ's share prices are falling back down to more reasonable levels. OCZ shares topped at $7.60, and have now dropped to $6.36. On Thursday, the prices were hovering at around $5.40 a share.

 

Then we have a Reuters article who quoted Seagate CFO Pat O'Malley, who said that the company would be interested in acquiring an SSD maker that has a "significant" share of the enterprise market, where he adds:

 

We look at all technology product providers (for M&A) but what I would say is that on the enterprise SSDs, there's probably only one of them that really makes any significant money.

 

Of course, O'Malley declined to comment more specifically on the OCZ acquisition rumors.

NEWS SOURCESBrightsideofnews.com, In.reuters.com, Wallstcheatsheet.com, Forbes.com

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