Toshiba issued a press release today announcing the completion of the acquisition of OCZ. The press release also reveals OCZ will continue as a subsidiary of Toshiba and operate independently. The company will no longer be officially called OCZ Technology Group but will continue as OCZ Storage Solutions from now on.
The purchase has provided Toshiba with OCZ's enterprise and consumer SSD business and also with the OCZ brand name.
The brand name seems to be an important asset for Toshiba as the company writes that the acquisition, "enables the established OCZ brand to continue in full force with a current product portfolio which includes SATA and PCIe consumer drives for high-performance and mainstream applications, and SATA, SAS and PCIe enterprise drives supported by virtualization, cache and acceleration software."
Obviously with Toshiba as the new owner, OCZ's main issue is resolved. Due to financial issues the company had a hard time securing sufficient NAND memory. With Toshiba as owner and supplier, OCZ can benefit from a steady stream of NAND of one of the world's major NAND manufacturers. And that NAND will be combined with OCZ's proprietary controllers, firmware and software as the press release states.
The CEO of now OCZ Storage Solutions is excited about the deal as he said, "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."
As a Toshiba Group Company, OCZ Storage Solutions will continue to maintain its worldwide sales channels. The new company’s headquarters will remain in San Jose, California, with design centers located in Irvine (California), Tel Aviv (Israel), and Abingdon (UK).
