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Thursday, October 6, 2011
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OCZ Acquires UK Design Team from PLX Technology
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OCZ Technology today announced it has signed a definitive agreement to acquire the UK Design Team and certain assets from PLX Technology, further strengthening the company's global research and development team.
PLX's UK Design Team has built a reputation for designing reliable
system-on-chip (SOC) solutions and the acquired engineering team's expertise
provides OCZ with additional resources for controller design. Through the
acquisition of the engineering team and the license of intellectual property
(IP), OCZ will be able to accelerate solid state drive development, reducing
its time to market for next generation SSD products, while also reducing
development costs.
Pursuant to the agreement, OCZ will among other items acquire from PLX
access to substantial IP and the UK Design Team, which consists primarily of
approximately 40 engineers located in Abingdon, United Kingdom. PLX will
retain their existing line of products which they will continue to support
and supply to their customer base, and any patents related to the
technology, for which OCZ will receive a perpetual license. The acquisition
is subject to the satisfaction or waiver of various closing conditions. PLX's UK Design Team has built a reputation for designing reliable
system-on-chip (SOC) solutions and the acquired engineering team?s expertise
provides OCZ with additional resources for controller design. Through the
acquisition of the engineering team and the license of intellectual property
(IP), OCZ will be able to accelerate solid state drive development, reducing
its time to market for next generation SSD products, while also reducing
development costs.
Pursuant to the agreement, OCZ will among other items acquire from PLX
access to substantial IP and the UK Design Team, which consists primarily of
approximately 40 engineers located in Abingdon, United Kingdom. PLX will
retain their existing line of products which they will continue to support
and supply to their customer base, and any patents related to the
technology, for which OCZ will receive a perpetual license. The acquisition
is subject to the satisfaction or waiver of various closing conditions. |
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