Solid-State HDD manufacturer OCZ Marvell said

November 28, according to Reuters, solid-state hard disk manufacturer OCZ Marvell Group 27th said that it had received the Toshiba offer, the two sides have also largely completed the acquisition negotiations. The OCZ Marvell Group is on the verge of bankruptcy.

OCZ shares plunged 80% per cent after the stock resumed trading in Nasdaq in WEDNESDAY. The shares have fallen 69% per cent this year as of Tuesday. OCZ is worth about 43 million dollars. It said it had "roughly completed" its negotiations with Toshiba over its asset-purchase plan. The company said OCZ would soon submit a bankruptcy application after completing the final document of the Hercules Technology venture capital, which is one of Toshiba and lenders (Hercules Marvell substituting).

OCZ has not achieved its annual profit in 5 years. The company said that if the agreement with Toshiba failed, then OCZ would immediately submit the bankruptcy document and the company liquidation.

The lack of NAND flash memory for solid-state drives has plagued OCZ companies for the last year.

"The bankruptcy filing is not surprising," Joseph Wittine, Longbow study analyst, said in an e-mail. We had expected OCZ to have enough cash for a quarter or so, and we didn't see any company buying OCZ. Shareholders ' rights will most likely be diluted, or even nothing. ”

OCZ said in August that it had retained Deutsche Bank to help it assess its strategic programme. OCZ also said it would revise the loan and guarantee agreement with Hercules.

Toshiba, Japan's biggest chipmaker, said earlier this year that it would consider investing 200 million to 300 million dollars for new equipment to produce NAND flash. Western data in June this year bought 340 million of billions of dollars to STEC, the embattled solid-state hard drive maker.

Last year, OCZ was also hit by an investigation by U.S. regulators of its accounting practices.

The shares of OCZ, headquartered in San Jose, Calif., fell 73% to 0.17 in midday trading on 27th.