(Reuters) - Seagate Technology PLC (>> Seagate Technology PLC) said on Thursday it would contribute up to $1.25 billion (935.49 million pounds)towards the purchase of Toshiba Corp's (>> Toshiba Corp) chip unit by a consortium led by Bain Capital LP.

Toshiba said earlier in the day it had signed an $18 billion deal to sell the unit to the group, overcoming a key - albeit not its last - hurdle as it scrambles for funds to stave off a potential delisting.

Seagate also said it expects to enter into a long-term supply agreement with the unit, Toshiba Memory Corp.

Besides Seagate, Bain's consortium includes Apple Inc (>> Apple), South Korean chipmaker SK Hynix (>> SK Hynix Inc), Dell Inc and Kingston Technology.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza)