Here is why Toshiba wants to acquire substantially all the assets of OCZ Technology's SSD business.
The SSD market is highly very competitive and Connectikpeople observes that, companies need increasingly compelling total storage solution. Based on these realities, Toshiba Corporation entered into an agreement at December 2 with OCZ Technology Group, Inc. to acquire substantially all the assets of OCZ Technology's SSD business. The goal here is to associate NAND technology with OCZ's SSD expertise to further strengthen Toshiba's SSD business. This means, be able to provide client and enterprise customers with a
very compelling total storage solution.
The transaction could be completed through a sale and auction process pursuant to Section 363 of the U.S. Bankruptcy Code, and subject to approval by the bankruptcy court supervising OCZ Technology's Chapter 11 bankruptcy.
Connectikpeople recalls that, if Toshiba is selected as the successful bidder, subject to court and other regulatory approvals, the company expects to complete the acquisition in January 2014.