OCZ announced it acquired storage-related intellectual property from Solid Data Inc. The technology will be implemented in future SSD solutions from OCZ.
OCZ Technology Group, Inc. (Nasdaq:OCZ), a leading provider of high-performance solid-state drives (SSDs) and memory modules for computing devices and systems, has acquired certain assets of privately held Solid Data Inc., a provider of solid-state storage systems and solutions based in Santa Clara, California.
OCZ acquired the Solid Data assets for a total consideration of approximately $950,000, consisting of restricted common stock and cash. As a result of the acquisition, OCZ will gain access to DRAM-based and Fibre-Channel ("FC")-based SSD controller technology for implementation in future OCZ solutions. In combination with OCZ's existing SSD technologies, the acquired Solid Data IP enables OCZ to offer a wider range of enterprise-grade SSD products to OEMs, including proprietary FC-based SSDs and low-latency DRAM/Flash hybrid solutions.
"The Solid Data assets facilitate a unique opportunity for OCZ to transform IT infrastructures with the unprecedented speeds, reduced overhead, and increased endurance of new storage solutions, " said Ryan Petersen, President and Chief Executive Officer of OCZ Technology Group, Inc. Mr. Petersen added, "These assets accelerate our technology development enabling us to deliver an expanded range of next generation products and solutions to our Enterprise and OEM clients."