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Windows 7: OCZ Filing for Bankruptcy


27 Nov 2013   #1

64-bit Windows 8.1 Pro
 
 
OCZ Filing for Bankruptcy

Quote:
SAN JOSE, CA -- (Marketwired) -- 11/27/13 -- OCZ Technology Group, Inc.(NASDAQ:OCZ), a leading provider of high-performance solid state drives (SSDs) for computing devices and systems, today announced that on November 25, 2013, it received notices that Hercules Technology Growth Capital, Inc. ("Hercules") took exclusive control of the Company's depository accounts at Silicon Valley Bank and Wells Fargo Bank, National Association. As set forth in the Company's recent SEC filings, Hercules and the Company are parties to a loan and security agreement. As previously reported, the Company is not in compliance with certain of the operating ratios and covenants in the loan agreement. As a result of such action and pursuant to Hercules' written instruction, the depository institutions disbursed the cash in the Company's respective accounts to accounts under the control of Hercules.
OCZ Filing for Bankruptcy, Announces Offer From Toshiba to Purchase Assets - NASDAQ.com

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27 Nov 2013   #2

Windows 7 x64 and numerous virtual machines
 
 

What a shame. Another advanced Technology company having issues with short sighted financiers. Why does no one think long term, this coming year is when SSD and similar technologies become very much mainstream.
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27 Nov 2013   #3
whs
Microsoft MVP

Vista, Windows7, Mint Mate, Zorin, Windows 8
 
 

Quote   Quote: Originally Posted by Indianatone View Post
What a shame. Another advanced Technology company having issues with short sighted financiers. Why does no one think long term, this coming year is when SSD and similar technologies become very much mainstream.
Very true. Now that the SSD boom starts, that should not happen. Let's hope Toshiba can salvage it.
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27 Nov 2013   #4

Windows 7 64 bit SP1
 
 

Quote   Quote: Originally Posted by Indianatone View Post
What a shame. Another advanced Technology company having issues with short sighted financiers. Why does no one think long term, this coming year is when SSD and similar technologies become very much mainstream.
Well if you put out crap and loose customers trust, this is bound to happen.
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27 Nov 2013   #5
whs
Microsoft MVP

Vista, Windows7, Mint Mate, Zorin, Windows 8
 
 

I own 3 OCZ SSDs and they all work well. From where do you get this 'crap' idea.
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27 Nov 2013   #6
Microsoft MVP

64-bit Windows 8.1 Enterprise
 
 

Yep, I've had several OCZ SSDs over the years, and only had one that died. OCZ replaced it under warranty without a fuss. Other than that one incident, they are still running great for me.

I shall miss them.
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27 Nov 2013   #7

Windows 7 Pro-x64
 
 

It's all about the bottom line and return on investments. Some investors will tank a company if they can't maintain a 25% return from a global market. That's why you see the stock market doing well but local economies going (gone) bust. It's sad but on the other hand, bankruptcy doesn't always end a product or a company.
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27 Nov 2013   #8

Windows 7 64 bit SP1
 
 

The big debacle they had over their vertex 3 Sandforce SSD? You don't know about that? It was crashing many customers computers and loosing data. Thre customers just got the run around of try this and firmware after firmware revisions over and over and over, when it was controller bugs and they couldn't do anything about. There were also incidents where they advertised performance for one of their SSD then silently changed the chips to fewer, denser 25 nm which dropped the performance. They ended up having to rename the model for that there was such a backlash. You can't find this on their support forums because they would purge all of the bad stuff.

We had bought one for work for some tests (against my advice). It died in two days. They wouldn't honor the warranty because it was being used in an enterprise environment - never mind that we used it in spec.

IDK, maybe you got lucky, a lot of people didn't and they lost a lot of their customer base. I don't think it had anything to do with financiers.
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27 Nov 2013   #9
whs
Microsoft MVP

Vista, Windows7, Mint Mate, Zorin, Windows 8
 
 

That is indeed a sad story. I must have just been lucky.
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27 Nov 2013   #10

Windows 7 64 bit SP1
 
 

I followed their support forums for some while since I was buying an SSD at the time they came out with the vertex 3. Their support staff were arrogant and not helpful. They were having customers try a 16 step process to install their SSDs, and this didn't work. Actually I don't know if they ever resolved the issues, most people gave up and the company didn't stand behind the product.

I don't know if you had the Vertex 3, and I believe that later versions of the Sandforce turned out OK, but OCZ made a move to their own controller after this - you can draw conclusions. So YMMV on their SSD, but if you had issues that couldn't easily be resolved, I think you were left in the cold. I think this alienated a lot of customers.

It certainly is sad for their employees, I hope the good ones get picked up by Toshiba.
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 OCZ Filing for Bankruptcy




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