Toshiba has completed the acquisition of all assets of OCZ Technology Group, a Silicon Valley manufacturer of solid-state drives (SSD).
With immediate effect, the new unit will operate independently as OCZ Storage Solutions, offering Toshiba with its enterprise and client solid state drives businesses.
Toshiba corporate VP and Toshiba's Semiconductor and Storage Company vice president Seiichi Mori said that the acquisition facilitates offering portfolio of solid state solutions to address the storage challenges faced by both client and enterprise customers.
"Acquisition of OCZ further expands our solid-state storage capabilities and represents Toshiba's commitment to this high-growth area," Mori said.
In addition, OCZ Storage Solutions would benefit from Toshiba's NAND and incorporate it with the its proprietary controllers, firmware and software and offer both client and enterprise customers with solid-state storage solutions.
OCZ Storage Solutions CEO Ralph Schmitt said that the acquisition would allow developing new and unique solid-state storage technologies that position the new entity as a market leader.
"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," Schmitt added.