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Dec. 2, 2013, 5:03 PM
- Five days after announcing it plans to file for bankruptcy and has received an asset purchase offer from Toshiba (TOSBF), OCZ says it has "signed an asset purchase agreement" through which the Japanese conglomerate will "acquire substantially all of OCZ's assets in a chapter 11 bankruptcy proceeding for $35M." (PR)
- Toshiba will gain control of OCZ's SSD ops, as well as its SSD controllers, software, and firmware. OCZ will receive debtor-in-possession financing to support its operations during the bankruptcy process.
- The sale, which remains subject to bankruptcy auction proceedings and court approval, is expected to close within 60 days.
Nov. 27, 2013, 2:23 PM
- OCZ states loan provider Hercules Technology Growth Capital (previous) has taken "exclusive control" of its accounts at multiple banks, due to the SSD vendor's failure to meet operating ratios and covenants in its loan agreement. (PR)
- Toshiba (TOSBF) has offered to "acquire substantially all of [OCZ's] assets in a bankruptcy proceeding." The companies have "substantially completed negotiations on an asset purchase agreement," but the deal is still subject to various conditions, including the acceptance of Toshiba's offer by a bankruptcy court.
- OCZ adds that if it isn't able to reach a final deal with Toshiba, it plans to "imminently file a petition for bankruptcy and liquidate."
- Shares remain halted, but will resume trading at 2:30PM ET.
Sep. 12, 2013, 1:02 PM
- OCZ (OCZ +12.7%) CEO Ralph Schmitt was scheduled to present at Deutsche's dbAccess Technology Conference at 11:50AM ET, but reportedly cancelled due to a last-minute scheduling conflict.
- OCZ, currently evaluating "strategic alternatives," has seen plenty of buyout speculation in the past. Two major flash storage acquisition have been announced just in the past week (I, II), but they both involved more enterprise-focused companies.
- 19.4% of the float was shorted as of Aug. 30.
Jul. 22, 2013, 1:40 PMOCZ (OCZ +3.1%) spikes after TheDeal reports the company may be up for sale. Rumors of Seagate/OCZ buyout talks have popped up a couple of times, but have also been refuted. The recent Western Digital/sTec and SanDisk/SMART Storage deals have led to fresh speculation Seagate or another firm might target OCZ. | 3 Comments
Jun. 24, 2013, 9:19 AMOCZ (OCZ) +10.2% and Fusion-io (FIO) +2.2% following news Western Digital is acquiring enterprise solid-state drive vendor sTec at a 91% premium to Friday's close. Both OCZ and Fusion-io have often been the subjects of buyout speculation; a couple of OCZ rumors have involved Western Digital archrival Seagate. Fusion-io has more of an enterprise focus than OCZ, but new CEO Shane Robison recently declared the company isn't for sale. | Comment!
Sep. 27, 2012, 4:01 PMA "highly reliable source close to Seagate" tells Eric Savitz Seagate (STX) isn't going to buy OCZ Technology (OCZ +2.4%). OCZ, which was up over 10% earlier today on a report from The Register suggesting a deal came close this summer, has given back most of those gains. Between The Register's report and a July BSN scoop that proved to be inaccurate, someone feeding OCZ buyout rumors might have a very active imagination. (also) | 4 Comments
Sep. 27, 2012, 9:10 AMOCZ Technology (OCZ) +3.6% after The Register reports the company indeed held buyout talks with Seagate (STX) this summer, with a deal "almost done on the financial side," but that talks fell apart because OCZ CEO Ryan Peterson wanted a seat on Seagate's board. Peterson's role in the deal's collapse is said to have contributed to his resignation last week. If Seagate is interested, it might have to pay less now - OCZ plunged to new multi-year lows yesterday. | 3 Comments
Aug. 20, 2012, 3:47 PM
Aug. 16, 2012, 9:32 AMIBM is acquiring Texas Memory Systems (TMS), a maker of high-end flash memory hardware, for an undisclosed sum. TMS offers standalone systems that compete with Violin Memory and EMC-acquired XtremIO, and PCI-Express modules for servers that compete with solutions from Fusion-io (FIO), STEC, and OCZ Technology (OCZ +2.9%). The deal is an attempt by IBM to invigorate a storage business that has been seeing declining sales. | 1 Comment
Jul. 31, 2012, 9:37 AMOCZ Technology (OCZ -11%) dives after Seagate's (STX -3.2%) FQ4 report comes and goes without the hard drive giant announcing it's acquiring the company, as multiple rumors (I, II) claim it will. Following the report, Seagate's CFO said his company is looking to buy a solid-state drive vendor, but one that has a significant share of the high-margin enterprise market. Though OCZ has an enterprise presence, rival STEC (STEC -1.2%) is a bigger player here. | 3 Comments
Jul. 27, 2012, 6:23 PMOCZ Technology (OCZ +30.2%) +15.7% AH to $8.19, adding to the big gains it saw today on reports (I, II) Seagate (STX) is planning to buy the company at a price near $15/share. The question speculators are fighting over: is Seagate actually desperate enough to improve its solid-state drive (SSD) position (necessary given the long-term threat posed by SSDs) that it would pay a ~50% premium relative to OCZ's all-time high, in spite of many alternatives? STEC gained 6.9% on the day. | 7 Comments
Jul. 27, 2012, 4:00 PMBright Side of News reports that Seagate's (STX -0.2%) purchase of OCZ Technology (OCZ +29%) is a done deal. The sale has already been agreed to, according to its sources close to the negotiations, and may be announced when STX reports its Q2 results on July 30. One source is pegging the deal at around $1.14B. | 4 Comments
Jul. 27, 2012, 9:42 AMOCZ Technology (OCZ +25.2%) takes off on new rumors Seagate (STX -0.5%) is looking to buy the company (previous) to shore up its solid-state drive position. This time around, it's reported Seagate is offering to pay ~$1B - $475M-$550M in cash and $450M-$525M in stock - or more than twice what OCZ is worth even after today's move. Some clearly doubt Seagate would pay that much. Rival STEC is up 3.1% in sympathy. | 2 Comments
Jul. 19, 2012, 10:08 AMOCZ Technology (OCZ +14.9%) soars on a report Seagate (STX -1.2%) is considering an acquisition of the company. Other companies are also said to be interested. Buying OCZ would strengthen Seagate's position in the solid-state drive (SSD) market, as SSDs steadily take share from hard drives. OCZ rival Fusion-io (FIO +5.5%), the subject of plenty of M&A rumors of its own, is also rallying, as is STEC (STEC +2.9%). OCZ is heavily shorted. (DensBits) | Comment!
Jun. 12, 2012, 2:14 PMSanDisk (SNDK +3.3%) pops on rumors it has hired Goldman Sachs to facilitate a sale. SanDisk sports a low valuation (1.7x estimated 2012 sales), but also carries a market cap of $8.7B, and operates in a capex-intensive business that's occasionally subject to massive price declines. OCZ Technology (OCZ +7.4%) and STEC (STEC +3.1%), which compete with SanDisk's solid-state drive business, are also rallying. | Comment!
May. 11, 2012, 11:08 AM
OCZ vs. ETF Alternatives
OCZ Technology Group, Inc. provides solid state drives and memory modules for computing devices and systems. It develops flexible and customizable component solutions quickly and efficiently to meet the market needs.
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