Following the OCZ’s filing for bankruptcy, OCZ and Toshiba have reached agreement where Toshiba will buy OCZ assets for 35 million dollars. Under the agreement, Toshiba will “acquire OCZ’s client and enterprise solid state drive business,” where Toshiba will acquire “OCZ’s proprietary controllers, firmware and software, as well as the teams responsible for bringing these solutions to market, in addition to OCZ’s established brand and sales channels.” It is unknown what will happen to other OCZ products such as power supply.
Toshiba will provide OCZ with DIP (Debtor-in-Possession) financing during the transition period which allows OCZ to continue to operate as normally. The agreement has been approved by OCZ Board of Directors and the deal is expected to be complete approximately in 60 days. It is unknown what will happen to the OCZ brand and its product after the deal has completed.