OCZ Filing for Bankruptcy

[Tews]

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

 

[Indianatone]

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.

 

[whs]

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.

 

[GeneO]

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.

 

[whs]

I own 3 OCZ SSDs and they all work well. From where do you get this 'crap' idea.

 

[Brink]

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.

 

[carwiz]

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.

 

[GeneO]

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.

 

[whs]

That is indeed a sad story. I must have just been lucky.

 

[GeneO]

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.

 

[linnemeyerhere]

I remember back just a few years and OCZ was the ram to have, but I too had heard of the Vertex III issues and stayed away till I found a 120gb V III for just over $40.00 delivered and a pulled the trigger. So far that drive has worked well but it doesn't get much use. Once a company gets a reputation for poor design or poor customer service it's hard to change that trend.

 

[Brink]

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.

It was dark days with OCZ during that time. I was hoping they would be able to redeem themselves and come out with some great tech. The Vector has been solid for me so far.

 

[TanyaC]

I have 8 OCZ SSDs. Not had a single problem with a single drive, and they are faster than the Samsung's I also have.

Sad news.

 

[whs]

I bought my first OCZ 60GB in 2008 - very expensive then. It was an adventure at the time but evenbtually I got it to work. It still works now in a system my wife uses. The last one was the Vector and that has not given me any problems either.

 

[lehnerus2000]

ReRAM

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.

SSDs are still too expensive:

• $100 - $150 for 120 GB SSD
• $100 - $150 for 2 TB - 3 TB HDD

When are companies going to release consumer ReRAM drives?
They appear to be better, stronger and faster.
ReRAM, the memory tech that will eventually replace NAND flash, finally comes to market | ExtremeTech

 

[whs]

I just paid $138 for a 256GB SSD - and a good one.

 

[lehnerus2000]

I just paid $138 for a 256GB SSD - and a good one.

The cheapest price for a 256 GB SSD, at my supplier, is $185.
Most drives are priced around $250.

I always need more storage, so SSDs aren't good value for me.

 

[whs]

I just paid $138 for a 256GB SSD - and a good one.

The cheapest price for a 256 GB SSD, at my supplier, is $185.
Most drives are priced around $250.

I guess you have no NewEgg.

Mushkin Enhanced Chronos MKNSSDCR240GB Solid State Drive - Newegg.com

Btw. It's only 240GB, but so what.

 

[lehnerus2000]

I guess you have no NewEgg.

Not one that I'm aware of.

 

[Britton30]

SSDs aren't for big mega-storage jobs yet, but will be soon. The ReRAM looks good but will likely be a few to several years before consumer products are seen, it's a brand new experimental tech as of now, but is very promising. there is also nano- technology where a PC can be printed on a piece of flexible plastic.