First HPE and Palantir, now Oracle: Software companies are giving up their headquarters in Silicon Valley – also due to the trend towards home offices.
Oracle Headquarters in Redwood City
(Picture: Justin Sullivan/Getty Images)
With SAP’s competitor Oracle, another heavyweight in the tech industry is moving from Silicon Valley to Texas. Oracle announced on Friday that its headquarters had been moved to the city of Austin. The company hopes that this will improve growth prospects and increase flexibility for its employees.
At the beginning of this month, the IT group HPE announced that it would turn its back on its home in Silicon Valley and move to Houston, Texas. This is where the company already has its largest employment focus in the USA. Houston is an attractive location for attracting future employees. A new company headquarters is currently being built
The corona crisis has already triggered a first wave of migration from Silicon Valley. In recent decades, rents in the center of the start-up world in particular had risen steadily. Many employees of tech companies took advantage of the pandemic with increased homeworking to move to more favorable areas.
In the meantime, it is also becoming apparent that people will spend less time in the office in the future. As a result, companies see more leeway in choosing their headquarters. A few months ago, for example, the data analysis company Palantir announced that it was moving its headquarters from Palo Alto to Denver, Colorado.
Oracle was last headquartered in Redwood City south of San Francisco. The distinctive office towers there are to remain an important location. Oracle was founded in 1977 by Larry Ellison and others. The database specialist is thus one of the companies that made Silicon Valley great and prepared the ground for today’s online giants.
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