Oracle is shifting its headquarters from Silicon Valley to Austin, Texas

Oracle is moving its headquarters from Silicon Valley to Austin, Texas

An exterior view of the Oracle Field Office on Wilson Boulevard in Arlington, Virginia, October 18, 2019.

Tom Brenner | Reuters

Oracle is the newest technology company to move its headquarters from California. The company announced on Friday that it was moving its headquarters from Silicon Valley to Austin, Texas.

“Oracle is implementing a more flexible employee location policy and has relocated its headquarters from Redwood City, California to Austin, Texas. We believe these moves will best position Oracle for growth and give our employees greater flexibility in where and how they work. “confirmed a spokesman to CNBC.

Bloomberg first reported on the move.

A majority of employees can choose their office location or continue working from home part-time or full-time, the company said.

“We will also continue to support key Oracle hubs around the world, including those in the US such as Redwood City, Austin, Santa Monica, Seattle, Denver, Orlando and Burlington. We anticipate adding more.” Locations over time, “said Oracle.” By implementing a more modern approach to work, we expect to further improve the quality of life and the quality of our people. “

Oracle is one of the older Silicon Valley success stories, founded in Santa Clara in 1977. In 1989 it moved to its current headquarters. Some of the buildings on campus are built in the shape of a squat cylinder, which is the classic symbol in Computer System Design for a Database, the product on which Oracle built its empire.

The coronavirus pandemic has given a number of tech companies and Silicon Valley celebrities an excuse to leave California. Hewlett Packard Enterprise announced earlier this month that it will be relocating its headquarters from San Jose, California to Houston, Texas. Data analytics software company Palantir Technologies moved its headquarters from Palo Alto, California to Denver, Colorado earlier this year.

Elon Musk, head of Tesla and SpaceX, also confirmed this week that he has moved to Texas, although his companies maintain their main operations in California. Larry Ellison, co-founder and chairman of Oracle, is a board member of Tesla. Ellison has a longstanding friendship with Michael Dell, whose computer company was founded and remains headquartered in the Austin area.

Subscribe to CNBC on YouTube.