SSD manufacturer OCZ files for bankruptcy

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If you’re keen on your computer hardware you might be aware of OCZ, a company which used to make RAM and other components before opting to focus on solid-state drives. If that’s the case, you’ll likely lament the fact that the makers of the Vertex and RevoDrive 3 SSDs have filed for bankruptcy.

OCZ has started the process to declare bankruptcy, passing control of the company’s accounts to a company called Hercules Technology Growth Capital, Inc. due to a default on a loan agreement with Hercules. This isn’t necessarily the end for the company, OCZ has “…received an offer from Toshiba Corporation to acquire substantially all of the Company’s assets in a bankruptcy proceeding”, according to MarketWatch, which could see its employees and technology passed over to Toshiba.

However if OCZ fails to reach an agreement with Toshiba – something which must be approved by a bankruptcy court once a petition for bankruptcy has been filed – the company will have to liquidate completely, dropping off the technology map for good.

Source: Ars Technica

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