OCZ Technologies has just announced that they are buying Indilinx, one of the first makers of SSD and related flash controllers. While Inidilinx will be owned by OCZ, they will still supply controllers to other SSD manufacturers, and OCZ will still buy from other suppliers.
The short story is that Indilinx is being bought for about $32 million in OCZ stock, and will end up owning about 9.5% of the combined company. Current employees and management will remain in place, and no huge changes are expected at the Korean company.
One interesting bit is that the press release from OCZ prominently mentions Tinkerbell, the Indilinx eMMC controller. This is basically a flash storage controller for embedded and CE devices, an interface simpler than SATA and more suited to the class of devices that you put in your pocket. It looks like OCZ wisely sees widgets as a large growth area, and will probably go after that market in short order.
You can read the full release at OCZ here.S|A