Toshiba on Wednesday finalized the purchase of OCZ Technology Group, making it a wholly owned subsidiary and thus officially marking the end of an era that began over a decade ago. However, it's also a new beginning of sorts -- or a second chance, if you will -- as Toshiba said the division will operate independently as OCZ Storage Solutions and continue to churn out high performance solid state drives.
Going forward, OCZ Storage Solutions will use Toshiba's cutting-edge NAND flash memory chips combined with the company's proprietary controllers, firmware, and software for both client and enterprise-class SSDs. Essentially what this means is that OCZ can build drives like before, but without having to worry about shortages in the NAND flash memory market, which played a role in driving the company to bankruptcy in the first place.
"We are very excited to be part of the Toshiba family where we will continue to develop new and unique solid-state storage technologies that position the new entity as a market leader," said Ralph Schmitt, CEO for OCZ Storage Solutions. "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."
In a way, hitting rock bottom like OCZ did might end up being the best thing that could have happened to the company. OCZ now finds itself in a much better position, freeing up leadership to concentrate on its product strategy and innovations rather than figuring out how to pay the bills month after month.