OCZ files for bankruptcy; Toshiba offers to buy most of its assets

One of the biggest suppliers of solid state drives has announced it has filed for bankruptcy after months of financial problems. San Jose, California-based OCZ Technology revealed its plans on Wednesday, along with a buyout offer from Toshiba.

OCZ released a number of other PC hardware products over the years since it launched in 2002, and even acquired a gaming PC maker, Hypersonic PC, in 2004. In later years, it gained a lot of fame as one of the biggest suppliers of consumer SSDs as prices for those storage drives started to come down. In fact, OCZ released the first 1 TB SSD back in 2010.

However, the past couple of years have not been kind to OCZ, as competition from larger companies like Samsung, combined with a shortage of NAND flash memory chips, impacted sales of the company's SSD drives. Wednesday's press release would seem to signal the end of OCZ as we know it as the company revealed that Toshiba has a pending offer to buy most of its assets.

The specific financial terms of the offer were not disclosed. If the deal does not go through, OCZ says it plans to liquidate its assets. Even if the deal with Toshiba goes through, there's no guarantee that the current warranties on current OCZ products will be honored.

Source: OCZ | Image via OCZ

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Ohh Man I sure hope someone else buys up PC Power and Cooling and keeps that line running, its the best set of power supplies I've ever used!

The main issue with OCZ was the firmware for their SSD's which could make the SSD none responsive or even kill the SSD drive completely. Which is what happened to mine. The PSU I had was brilliant until I noticed a drop in power across +12v +3.5v and +5.0v Rails and I purchased the most expensive PSU ever Corsair AX1200i and running with CorsairLink I can monitor the power.

Over the last few years I have purchased a couple dozen OCZ SSDs, from the Vertex Turbo to the Vector. Also spent a lot of time on their forum, one of the best IMO. I had some issues with some of the drives and would have to accept blame for some of them.

As previously posted, I still have 8 drives, 7 in use, 1 in cupboard resting. I was somewhat surprised by the bankruptcy notice, but not totally, since I had rumblings of financial problems.

It was a hellava run while it lasted, I hope the techs on the forum are taken care of, they are a great bunch IMO.

OCZ SSD had 5.0-7.0% failure/return rate during last 3 years. No sane business would buy their disks when Intel and Samsung are more than 10 times more reliable (return/failure rates 0.1% - 0.6%).

I dont care about the SSD but i do care about their memory. Can someone confirm if this affects their memory side also?

I also wonder as one poster suggested if their items will sell cheaper?

flynempire said,
I dont care about the SSD but i do care about their memory. Can someone confirm if this affects their memory side also?

I also wonder as one poster suggested if their items will sell cheaper?

OCZ exited the RAM market in Feb 2011, since then they basically only make SSDs.

Due to this, for faulty memory they give you credit for the last known market price.

I had 2 OCZ SSD and both died just after 1 year. Now I have both Intel and Samsung SSD and never had any problem or slowdown.

Wow, this seems like a big loss to the enthusiast market..when I used to build liquid cooled PC's I used to almost exclusively use OCZ RAM, they were always pretty cutting edge and had rock solid warranty support as well as a forum for customers to give personal step by step help...Still have an OCZ SSD in my MacBook Pro...another once great American company bites the dust

OCZ rapidly went from a company I liked to a company I didn't respect in the last year, when they decided to not respect their warranty and replace my failing 10 months old SSD (hardware problem), pretexting I flashed my drive with the wrong firmware. Problem? I never flashed the drive.

I'm now using Intel SSDs and I love them.

I was contemplating getting OCZ but then read so many bad reviews on Newegg. Then I went with Samsung 840 Pro and it works flawless.

The 840 pro is ( I think) the only SSD with a 5 year warranty. Very low power usage and VERY fast. I used one in a build for a friend and he loves it.

I've got 5 Vertex 4 256s in my desktop, 2 Vector 256s in my laptop, and 1 Vector 128 in my cupboard. Looks like I'd better start praying to the OCZ SSD Gods.

Bad news, I have had my 120GB OCZ SSD installed on my PC for almost 2 years now, with absolutely no problems at all, Windows 8.1 flies on it too, shame this has happened to them :-(

Tough shh. OCZ ZT series seemed to be among the best obsecenly cheap fully modular PSUs and I really recommended them until... well, yesterday.

I guess the lifetime warranty on their RAM is gone too. They replaced 2 of my sticks a few years back and of course they got out of the RAM business.

Indeed. I used their RAM and PSU's in 3 of my 4 PC builds, and never had a problem. Their SSD's are what have killed them. The high failure rate combined with their horrendous customer service got them where they are now.

I uses to have - and still have 1 - OCZ SSD. However, failures and unusable SSD turned me to Intel.
Maybe I'm not the only one......

Me too however, I switched to Corsair instead and it's the fastest SSD I have ever owned. I had SSD'S and PSU which run into issues. I recently sent back a DEAD SSD to them and they gave me a new one. I wasn't aware they were in trouble.