OCZ Raises $15.45 Million to Accelerate its SSD Business

Earlier this week, we broke the news that OCZ was closing Hypersonic-PC down in order to shift the majority of the company’s focus to more important areas. The custom-built PC business just wasn’t cutting it, and when we’re comparing it to the SSD business, it’s easy to understand why one is far more attractive than the other.

Today, the company has further proven the importance of its SSD business by announcing the sale of 5,151,662 shares in order to raise $15.45 million in funding. This funding looks to be used only for the company’s solid-state drive side of things, to help with the growth and to accelerate next-generation options.

As Robert discovered last week, OCZ knows what it’s doing when it comes to developing and manufacturing SSDs, and it’s clear that its not the only competitor in the field. We’ve seen companies that have almost nothing to do with storage tap into the NAND world and produce SSDs, and with companies like Corsair and Super-Talent, among many others, also vying support for SSDs, OCZ’s funding is sure to help it take things to the next level.

One thing I think is worth noting is that despite not having the financial backing of Intel, it didn’t take too long for OCZ to pump out SSDs with revised controllers that, for the most part, left Intel’s offerings in the dust. That’s quite impressive. This round of funding only looks to improve that development further, so I look forward to seeing the future products that result from this.

“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 globally” said Ryan Petersen, President and Chief Executive Officer of OCZ Technology Group. “This round of funding will enable OCZ to continue its growth in SSDs and accelerate the development of next-generation solutions.”