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Toshiba completes acquisition of OCZ, launches new subsidiary

Toshiba closes acquisition deal with OCZ technology, forms new subsidiary known as OCZ Storage Solutions (TYO:6502)

| Storage News | Posted: Jan 22, 2014 12:33 am

Today, Toshiba announced that it has completed the acquisition of OCZ Technology's SSD assets and has closed the deal worth $35 million. This is the final chapter in the long-running saga that was OCZ Technology, and the culmination of months of speculation, rumors, and sharp downfalls of one of the pioneers of consumer SSD storage.

 

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"The acquisition of OCZ further expands our solid state storage capabilities and represents Toshiba's commitment to this high-growth area," said Mr. Seiichi Mori, Vice President of Toshiba's Semiconductor and Storage Company and Corporate Vice President of Toshiba. "Our goal is to offer a leading edge portfolio of solid state solutions to address the storage challenges faced by both client and enterprise customers, and the acquisition of OCZ is an ideal addition to our team in realizing this strategy."

 

In the deal, Toshiba purchased OCZ Technology's enterprise and client SSD business which already has a massive customer base. Toshiba has kept the OCZ name alive but has founded a new subsidiary named OCZ Storage Solutions and will operate independently of Toshiba while continuing to provide high-performance enterprise and client level solid state storage devices. OCZ Storage Solutions will continue to maintain its established world-wide sales channels and its company headquarters will remain in San Jose California.

 

"We are very excited to be part of the Toshiba family where we will continue to develop new and unique solid state storage technologies that position the new entity as a market leader," said Ralph Schmitt, CEO for OCZ Storage Solutions. "With Toshiba's financial strength and portfolio of leading-edge NAND flash memory, OCZ is now in a advantageous position as one of the few companies in the SSD industry with advanced controller IP and NAND flash supply under one global organization, which in turn will help enable more robust and competitive solid state solutions going forward while expanding our market presence in the rapidly growing SSD market."

 

About Toshiba

 

Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances. Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion).

 

About OCZ Storage Solutions

 

OCZ Storage Solutions - a Toshiba Group Company is a leading provider of high performance client and enterprise solid state storage products and is a wholly-owned subsidiary of Toshiba Corporation. Offering a complete spectrum of solid state drives (SSDs), OCZ Storage Solutions leverages proprietary technology to provide SSDs in a variety of form factors and interfaces to address a wide range of applications. Having internally developed firmware and controllers, virtualization, cache and acceleration software, and endurance extending and data reliability technologies, the Company delivers vertically integrated solutions enabling transformational approaches to how digital data is captured, stored, accessed, analyzed and leveraged by customers.

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