OCZ Files for Bankruptcy

The troubling company OCZ has filed bankruptcy on November 25, 2013. OCZ has been in financial trouble for some time but things were looking better with the company restructuring. Unfortunately, it appears that it is not enough to save the company.

OCZ was one of the major players in the SSD market where it was the first company to introduce drive based on the SandForce controller with their Vertex 2.The acquisition of the Indilinx controller also helped the company to produce good performance drives such as Vector. Unfortunately for OCZ drives are sometimes affected by poor reliability which may caused the poor sales its drives that ultimately results in the loss of the revenue. 

OCZ has received an offer from Toshiba Corporation to acquire the company’s assets. Besides Indilinx, OCZ also has PLX and PC Power & Cooling in its assets. The agreement is subject to various conditions that includes preservation of the value of business and retention of employees. We will have to wait to see if the deal goes through. 

Source: NASDAQ