A U.S. Bankruptcy Court judge Thursday approved the $90.2 million sale of the former Solyndra plant to hard drive manufacturer Seagate, according to media reports.
The purchase price is significantly less than the $300 million the failed solar-panel maker paid to construct the 412,000-square-foot factory, the Oakland Tribune reports.
Seagate began talks in August about purchasing the space from Solyndra,, which last year.
Seagate will use the building to replace its current research and development facility, according to the Tribune report.
Details about the company’s expansion and hiring were not yet revealed.
Seagate plans to close the sale over the next month, a spokesman told the Tribune.
Read the full Tribune report here.
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