Web search leader Google Inc. said on Wednesday it plans to pay $319 million for property and buildings, including its headquarters in Mountain View, California, to accommodate a growing work force.
The purchases includes Google's existing headquarters at 1600 Amphitheatre Parkway, which the company had been subleasing, and nearby buildings that are home to Silicon Graphics Inc., formerly a successful Silicon Valley technology firm that is now in bankruptcy.
While Google will now own the buildings outright, it will also assume Silicon Graphics' lease payments to the city of Mountain View, which owns the land, spokesman Barry Schnitt said. The properties together total about 978,000 square feet, Google said.
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Google to buy headquarters property for $319 mln
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