ZCO Liquidating Corp., the company that sells the assets of the bankrupt OCZ Technology Group, has completed the sale of OCZ’s power supply unit (PSU) business division to Firepower Technology, a little known company. The latter will now be able to continue producing PSUs that utilize technologies developed by OCZ.
OCZ got PSU-related assets in 2007, when it acquire PC Power and Cooling, a leading developer and manufacturer of power supply unit that was on the market since the eighties. With PCP&C, OCZ not only got a successful and valuable business as well as intellectual property, but also a lot of specialists who eventually developed OCZ-branded PSUs. While neither PCP&C, nor OCZ were volume leaders on the market of power supplies for PCs, their products were respected around the industry.
In February, 2014, Firepower got OCZ’s PSU business unit belongings, mainly consisting of its power supply and power management assets, for $850 thousand. The assets also include PC Power and Cooling product line.
Thanks to intellectual property from PC Power and Cooling as well as OCZ, Firepower will now be able to continue manufacturing of certain PSUs as well as develop its own. FirePower Technology and will produce and sell the award-winning PC Power and Cooling power supplies including Silencer MK III as well as the ZX, ZT, ZS, ModXSteam, CoreXStream, Fatal1ty and StealthXStream brands, all formerly sold by OCZ Technology.
“We are excited to launch our business with the OCZ power supply team, which was built on the successful legacy of the PC Power and Cooling brand. The launch of this independent business unit within FirePower will allow us to reestablish these brands, launch new products and drive the company back to the market leadership position this group enjoyed several years ago,” said Lawrence Firestone, FirePower Technology’s president and chief executive officer.
Firepower Technology plans to honor the warranty obligations of its installed base and will operate out of the company’s facilities in Carlsbad, California.
“Our objective is to provide ‘Best in Class’ products allowing our customers to enjoy unsurpassed quality and value. I am pleased to announce that with this acquisition, not only did we acquire a suite of great products but we also gained an excellent team,” added Mr. Firestone.