OCZ Technologies, one of the first companies to market consumer-level solid-state drives, has filed for bankruptcy. The company was beset with financial issues, and had failed to comply with the conditions of a loan, resulting in OCZ’s bankruptcy filing.
The company that was once synonymous with SSDs before other companies entered the fray. Unfortunately some of its products, such as the Vertex line, was wrought with issues, allowing newer SSD players such as Samsung to eat into its market share.
In the meantime, Toshiba is looking to pounce on the outcome of OCZ’s downfall. The company have already made an offer to acquire “substantially all of the Company’s (Toshiba) assets”, encompassing not only the intellectual properties owned by OCZ, but also keeping the troubled company’s employees employed. The offer, however, is subject to approval from a bankruptcy court – failing which OCZ would be totally dissolved as a company.
(Source: Ars Technica)