News
 

Bookmark and Share

(1) 

As OCZ Technology Goup is focusing on its core businesses – which are memory, solid-state drives (SSDs) and power supply units – the company will cease to introduce new  non-core products, including coolers, keyboards, mice, various gaming gear, systems and all the other products in order to spend all the resources onto the crucial parts of its operations.

“We are focusing on our key product categories. We have ceased sales and marketing of the Hypersonic brand […]. We have transitioned away from the coolers, systems and peripherals and allowing us to focus and direct resources to our core solutions which are SSDs, power supplies and memory,” said Alex Mei, executive vice president and chief marketing officer at OCZ Technology.

For years OCZ Technology Group had been trying to establish itself both as a premium supplier of computer memory as well as a provider of various hardware designed for gamers and enthusiasts. The company started to sell coolers, keyboards, mice and even created an exotic controller for games called Neural Impulse Actuator (NIA), which technology the company recently sold to BCInet company. However, OCZ never was very successful with such products. On the other hand, OCZ managed to establish itself as a supplier of high-performance own-brand solid-state drives in the beginning of the SSD era, which means that the company has bright prospects to eventually become a leading provider of advanced storage solutions. In order to direct all the available resources onto SSD business, the company decided to shut down all of its non-core businesses, including Hypersonic line of high-end PCs as well as OCZ’s DIY line of mobile computers.

Earlier this week OCZ Technology Group said it had closed $15.45 million in funding in order to support its growing solid state drive business. Through the transaction, OCZ sold 5,151,662 shares of its common stock (approximately $15.45 million in the aggregate) to several institutional investors. The transaction includes warrants to purchase an aggregate of an additional 2,575,831 shares of common stock. The warrants are immediately exercisable, have a term of five years and contain certain other features.

“Over the course of the last few years, we have met the demand for a better storage option head-on, by delivering high performance solid state disk drives to a wide array of customer’s globall. This round of funding will enable OCZ to continue its growth in SSDs and accelerate the development of next-generation solutions,” said Ryan Petersen, president and chief executive officer of OCZ Technology.

Thanks to the fact that OCZ was one of the first brands to enter SSD business several years ago, the company is now well-positioned to advance the deployment of flash-based storage solutions.

“OCZ will continue to design, develop and implement SSD technology with its current base of over 300 customers while opening up new markets through targeting enterprise and OEM customers seeking to adopt flash media as primary storage,” added Mr. Petersen.

Tags: OCZ, SSD, DRAM, Business, Hypersonic

Discussion

Comments currently: 1
Discussion started: 03/27/10 06:42:50 PM
Latest comment: 03/27/10 06:42:50 PM

[1-1]

1. 
Good for them! I would like to see them moving up the ladder and teach Seagate & WD a lesson about drive perfomance. These last 2 major players in the HDD business need a wake up call and some serious competition to drive the prices down.
0 0 [Posted by: East17  | Date: 03/27/10 06:42:50 PM]
Reply

[1-1]

Add your Comment




Related news

Latest News

Monday, April 14, 2014

8:23 am | Microsoft Vows to Release Xbox 360 Emulator for Xbox One. Microsoft Xbox One May Gain Compatibility with Xbox 360 Games

Tuesday, April 1, 2014

10:39 am | Microsoft Reveals Kinect for Windows v2 Hardware. Launch of New Kinect for Windows Approaches

Tuesday, March 25, 2014

1:57 pm | Facebook to Acquire Virtual Reality Pioneer, Oculus VR. Facebook Considers Virtual Reality as Next-Gen Social Platform

1:35 pm | Intel Acquires Maker of Wearable Computing Devices. Basis Science Becomes Fully-Owned Subsidiary of Intel

Monday, March 24, 2014

10:53 pm | Global UHD TV Shipments Total 1.6 Million Units in 2013 – Analysts. China Ahead of the Whole World with 4K TV Adoption

10:40 pm | Crytek to Adopt AMD Mantle Mantle API for CryEngine. Leading Game Developer Adopts AMD Mantle

9:08 pm | Microsoft Unleashes DirectX 12: One API for PCs, Mobile Gadgets and Xbox One. Microsoft Promises Increased Performance, New Features with DirectX 12

3:33 pm | PowerVR Wizard: Imagination Reveals World’s First Ray-Tracing GPU IP for Mobile Devices. Imagination Technologies Brings Ray-Tracing, Hybrid Rendering Modes to Smartphones and Tablets

2:00 pm | Nokia Now Expects to Close Deal with Microsoft in Q2. Sale of Nokia’s Division to Close Next Month