PLX Technology (PLXT) to Divest U.K. R&D Center; OCZ Tech (OCZ) to Acquire U.K. Team
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PLX Technology (Nasdaq: PLXT), reports it plans to reduce operational costs by divesting its United Kingdom Research and Development (R&D) Center based in the city of Abingdon. PLX has signed a definitive agreement with OCZ Technology Group (NYSE: OCZ), whereby OCZ will acquire the PLX UK team to enhance OCZ's design capabilities. The deal is expected to close before the end of October 2011.
PLX will remain in the consumer storage business as it will retain all manufacturing, supply and rights to the products developed by this team. PLX will continue to support customers with current and future designs as it has retained the customer support teams, including software and hardware applications engineers.
PLX will remain in the consumer storage business as it will retain all manufacturing, supply and rights to the products developed by this team. PLX will continue to support customers with current and future designs as it has retained the customer support teams, including software and hardware applications engineers.
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