Shuttered electronics company OCZ Technology has sold its power supply assets to Firepower Technology, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). Firepower paid just $850,000 for the OCZ business unit, as the former Silicon Valley company filed for Chapter 11 bankruptcy in late 2013.
Specifically, ZCO Liquidating Corporation brokered a deal between OCZ and Firepower Technology, "mainly consisting of its power supply and power management assets," according to the SEC filing. Firepower is a private company based in Delaware, and it is rumored OCZ product technology will be absorbed and possibly re-distributed by Firepower.
Previously, Toshiba stepped up to pick up OCZ's solid state drive (SSD) technology, as companies continue to circle, trying to get some bargain technology. The company's fall from grace left PC enthusiasts with one less company - despite creating fairly popular products, OCZ was unable to properly transition from niche consumer company to successful business able to cater to the enterprise.