Toshiba has bid to buy assets of OCZ, a bankrupt solid-state HDD maker

November 29 foreign media reported that Toshiba has bid to acquire the assets of OCZ, a bankrupt solid-state hard disk manufacturer. Under an agreement with the bankruptcy court, Toshiba will buy most of OCZ's assets. Toshiba's acquisition of OCZ is conditional on OCZ's ability to maintain business value and retain staff.

OCZ is having trouble buying flash chips and the business is affected. The latest quarter OCZ revenue from $88.6 million trillion to $33.5 million a year earlier, but the losses narrowed to $26.1 million from $33.2 million trillion.

Toshiba, one of the world's largest suppliers of flash chips, will help solve OCZ's flash chip purchases.

OCZ said in a statement that "the two sides have largely completed negotiations on an asset purchase agreement, OCZ that the two sides have agreed on all important issues." ”

OCZ said the company would "soon" file a bankruptcy application. OCZ also said Hercules Marvell substituting Capital (hereinafter referred to as "Hercules") had taken over the company's bank account. OCZ and Hercules signed a long-term loan agreement.