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Google to buy $319 mn headquarters

Google Inc plans to pay $319 million for about 978,000 square feet of property as it expands its headquarters in Mountain View.

india Updated: Jun 15, 2006 11:57 IST
Reuters
Reuters
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Web search leader Google Inc. said on Wednesday it plans to pay $319 million for about 978,000 square feet of property as it expands its headquarters in Mountain View, California.

The purchase includes Google's existing headquarters at 1600 Amphitheatre Parkway and nearby property that is home to Silicon Graphics Inc., a computer imaging company that is in bankruptcy protection.

Both locations are in Mountain View in the Silicon Valley area about 40 miles south of San Francisco.

The company disclosed the planned purchase in a regulatory filing. "We're pleased to expand our Mountain View campus to accommodate our growing employee population," Google spokesman Barry Schnitt said in an e-mailed statement. He declined to comment further.

Google has been hiring aggressively as it seeks to cement its position as the No. 1 Internet search provider. Google competes for talent with Yahoo Inc, eBay Inc and Microsoft Corp, among other technology companies.

Google said it agreed to buy the properties from WXII/Amphitheatre Realty LLC and related entities. The company said it paid $10 million into escrow on June 9 and expects the sale to close by the end of June.

First Published: Jun 15, 2006 11:57 IST