New Job same as the old Job just under new management

Some of you are aware of the current changes that have been happening at my work place. Long story short the company I worked for went bankrupt sometime in December. The company had a raft of different problems the previous management had been cooking the books and they had to restate 5 years worth of financials and that made getting money hard there were also issues with supply of Nand flash the prices we could get meant we couldn't really compete with our competitors most of whom make their own flash so get it at cost.

So as a result the company defaulted on a loan and went bankrupt. This was where toshiba stepped in and offered to buy the company for it's assets both the patents and IP but also all the employee's. Retention of staff was one of the conditions of the deal. They also loaned the company money to keep operating (which was nice as it meant I kept getting paid) and then started the procedures to buy up the assets in bankruptcy court.

Now at this point we were getting lots of meetings about where that left the employee's and what would happen but details were light and all of that was coached in maybes and full of caveats since until the purchase completed no one could promising anything. It was a stressful time we had to keep operating as normal keep pressure up on projects while knowing there was a possibility it would all collapse.

Anyway happily the buy out completed successfully for some 35 million and we are now a subsidiary of Toshiba we had a celebration of the completion today and the Toshiba people joined us to welcome us to the fold, in fact during the lunch Toshiba execs stole my chair while I was getting another drink. The current plan at least as far as they've said we are going to be an independent entity operating under the toshiba umbrella the plans and details are still being worked out.

There are a lot of advantages to the deal. Toshiba are one of the worlds largest flash manufactures and we will be able to get their flash at internal pricing which automatically makes our existing products more profitable. Previously we were buying flash from people like micron or intel at market prices and were competing against their products so we were at a big disadvantage. We can tailor products just to toshiba flash not have to bother with all the other types. We also then get access to their newer technology flash and all-sorts. Plus they have the money to invest in things like more staff r&D new equipment. It's also a nice fit since they don't have much in the way of SSD technology themselves the few they do have don't overlap with our existing and planned products. It seems like a good match for the company and I think it will be a good thing assuming we can deliver.

As far as day to day it will probably make less of a difference although we will transition from our current HR package to the toshiba one which sounded like it was better. They also showed us the org chart of the whole company and from being a smallish company you now need to zoom in three or for company subdivisions before you find us. We are now a tiny cog in a massive machine which is a little intimidating.

So I work for toshiba now at least on paper not sure what that will mean in the long term but so far I'm optimistic.