Toshiba pays $35 million for assets of bankrupted OCZ

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Just a few days after announcing that it was filing for bankruptcy, solid-state storage manufacturer OCZ has confirmed that it will be selling its assets to Toshiba for $35 million. According to the release, Toshiba will be acquiring "OCZ's client and enterprise solid state drive business" and that the sale is expected to close "within approximately 60 days." Toshiba will also be providing OCZ with the funding it needs to buy up NAND and support "existing and future customers" during the transitional period.

The purchase nets Toshiba every single part of OCZ, most crucially its "proprietary controllers, firmware, and software, as well as the teams responsible for bringing those solutions to market." In other words, Toshiba will now own all of OCZ's tech and the people responsible for developing it, as well as OCZ's "established brand and sales channels."