FREMONT, CA—Seagate Technology has closed on the sale of Solyndra LLC’s former solar-panel factory, launching the new chapter for the high-profile building.
The transaction was completed Friday, according to the Silicon Valley Business Journal. The price was thought to be close to the $90.3 million price previously reported.
Seagate emerges with a 412,000-square-foot facility Solyndra originally built for $300 million. The building went dark after Solyndra filed for bankruptcy in late 2011.
A significant transaction in itself, the deal gained more international attention because of the property’s connection to the high-profile failed solar-panel maker. The company’s bankruptcy caused a serious political controversy because it had accepted hundreds of millions of dollars in federal loan guarantees. The city of Fremont welcomed the sale when as a fresh start and symbol of investment in the community by Seagate, which is already a large employer in the area.
Click Silicon Valley Business Journal to read the full story.