Experienced R&D Team and Access to Intellectual Property to Speed Time to Market and Reduce Development Costs for Company's Next Generation SSD Solutions
SAN JOSE, CA-October 5, 2011-OCZ Technology Group, Inc. (Nasdaq:OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced it has signed a definitive agreement to acquire the UK Design Team and certain assets from PLX Technology, further strengthening the company's global research and development team.
PLX's UK Design Team has built a reputation for designing innovative and reliable system-on-chip (SOC) solutions and the acquired engineering team's expertise provides OCZ with additional resources for controller design. Through the acquisition of the engineering team and the license of intellectual property (IP), OCZ will be able to accelerate solid state drive development, reducing its time to market for next generation SSD products, while also reducing development costs.
"We are pleased to augment our engineering organization with the UK Design Team as they have been providing best of breed system-on-chip designs, software, and firmware since 1992," said Ryan Petersen, CEO of OCZ Technology. "We believe the additional engineers along with the access to increased IP resources will enable us to significantly reduce the costs associated with storage protocol licensing, while simultaneously speeding our time to market."
Pursuant to the agreement, OCZ will among other items acquire from PLX access to substantial IP and the UK Design Team, which consists primarily of approximately 40 engineers located in Abingdon, United Kingdom. PLX will retain their existing line of products which they will continue to support and supply to their customer base, and any patents related to the technology, for which OCZ will receive a perpetual license. The acquisition is subject to the satisfaction or waiver of various closing conditions.
About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ), is a leader in the design, manufacturing, and distribution of high performance and reliable Solid-State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the enterprise and consumer SSD markets, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well as leading-edge computer gaming solutions. For more information, please visit: http://www.ocztechnology.com.
Latest News Posts
- Digital made up 80% of Ubisoft's first quarter sales
- Console gamers to spend more on DLC than games in 2017
- GTA Online earned $1.09 billion, says analyst firm
- Microsoft earned $90 billion last fiscal year
- Xiaomi's upcoming phone to rock dual camera and MIUI 9
- How to upgrade the BIOS to GA-UD23-B3?
- Baby Driver Movie Review
- Asus laptop BIOS does not recognize UBCD-post page is grayed out - can't post
- Bloody AL90 Blazing Laser Gaming Mouse Review
- Cryptocurrency mining deflates, used GPUs hit eBay
- Atari announces Blade Runner 2049 partnership with NECA and Audiowear, launching wearable technology that blurs the line between fashion and future
- BIOSTAR introduces the world's first 8-slot PCI-e mining motherboard with the TB250-BTC+
- HyperX unveils HyperX Alloy Elite and TKL HyperX Alloy FPS Pro mechanical gaming keyboards
- Toshiba Memory Corporation develops world's first 3D flash memory with TSV technology
- ADATA releases XPG GAMMIX line with S10 PCIe Gen3x4 NVMe 1.2 SSD and D10 DDR4