SAP competitor Oracle is another tech industry heavyweight moving from Silicon Valley to Texas. The headquarters have been moved to the city of Austin, Oracle announced on Friday. The company hopes to improve growth prospects and provide more flexibility for employees.
Wave of migration from Silicon Valley
Just earlier this month, Hewlett Packard Enterprise (HPE) announced that it was turning its back on Silicon Valley and moving to Houston, Texas. There the company had already its rough employment emphasis in the USA. Houston is an attractive location to attract future employees, he said. Currently a new company headquarters is 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 have continued to rise. The pandemic of increased home-based work saw many tech company employees take advantage to move to less expensive areas.
Less time in the office
In the meantime, it is also becoming apparent that less time will be spent 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 would move its headquarters from Palo Alto to Denver in the state of Colorado.
Oracle was last headquartered in Redwood City south of San Francisco. The prominent office towers there are to remain an important site. Oracle was founded in 1977 by Larry Ellison, among others. The database specialist is one of the companies that made Silicon Valley great and paved the way for today’s online giants.