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Austin / Redwood City (dpa) - With the SAP competitor Oracle, another heavyweight in the tech industry is moving from Silicon Valley to Texas.
The headquarters have been moved to the city of Austin, Oracle announced on Friday.
It is hoped that this will result in better growth prospects and more flexibility for employees.
At the beginning of the month, the IT company HPE announced that it would turn its back on its home in Silicon Valley and move to Houston, Texas.
There the company already has its largest employment focus in the USA.
Houston is an attractive location to attract future employees.
A new company headquarters is currently being built.
The Corona crisis has already triggered the first wave of emigration from Silicon Valley.
In the past few decades, rents in the center of the start-up world in particular have continued to rise.
Many employees of tech companies used the pandemic with increased home work to move to cheaper areas.
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It is now also becoming apparent that in the future, too, will spend less time in the office.
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 relocate its headquarters from Palo Alto to Denver in the state of Colorado.
Oracle was most recently 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 among others.
The database specialist is one of the companies that made Silicon Valley great and prepared the ground for today's online giants.
© dpa-infocom, dpa: 201212-99-662992 / 4
Quarterly report from Oracle with relocation announcement