‘Seagate to compete with Toshiba on acquiring OCZs assets’

A source with connections inside the industry mailed us today about the possibility of Seagate to compete with Toshiba on acquiring OCZ’s assets. Yesterday OCZ announced  it’s filing for bankruptcy and also reported about an offer it received from Japanese technology giant Toshiba. The same announcement also stated the contracts hadn’t been finalized and it seems Seagate will take the opportunity to make a bid on OCZ’s assets too.

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Company executives of the storage giant stated SSDs are not a priority to the company only 2 years ago. But the company changed its mind and previously announced it would invest more in SSD technology than any other company. Acquiring OCZ’s would fit perfectly in that strategy.

Two companies bidding for the assets of OCZ might also be positive for involved stakeholders. More bidders will drive up prices.

Yesterday OCZ shares were worth $0.16 at the closing of the NASDAQ, they were down nearly 75%.