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Google Inc : Google Starting Construction on New Office Campus

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02/23/2013 | 12:53am CET
   By John Letzing 

Google Inc. (GOOG) says it plans to start building a new corporate campus adjacent to its Silicon Valley headquarters as the Internet giant continues to grow at a rapid clip.

"We are beginning construction on our new Bayview Campus, which is a key to our growth and another sign of our commitment to the area," a Google spokesman said in a statement.

Google's headquarters in Mountain View, Calif. was previously occupied by Silicon Graphics Inc. The new campus would be built on land leased from the National Aeronautics and Space Administration.

In a 2008 announcement, Google said it had agreed to lease more than 42 acres of land at NASA Research Park at Ames, where it intended to build up to 1.2 million square feet of offices and research facilities "in a campus-style setting."

Google said at that time it expected the first phase of construction on the new campus to begin by the end of September 2013. Under the terms of the 40-year agreement announced then, Google would pay NASA an initial base rent of $3.66 million annually.

Plans for the new campus were first detailed in Vanity Fair magazine, which noted that it will be made up of nine buildings connected by bridges on about 1.1 million square feet.

Google continues to hire aggressively at home and abroad as it develops new products and services to complement its core online advertising business.

The company recently reported having 37,544 employees world-wide as of the end of 2012, compared with 20,222 at the end of 2008.

The employee count for last year did not include workers at Motorola, which Google acquired for $12.4 billion.

Write to John Letzing at john.letzing@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ($)
Sales 2016 89 313 M
EBIT 2016 29 567 M
Net income 2016 19 664 M
Finance 2016 63 354 M
Yield 2016 -
P/E ratio 2016 29,52
P/E ratio 2017 25,01
EV / Sales 2016 5,61x
EV / Sales 2017 4,60x
Capitalization 564 758 M
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Average target price 964 $
Spread / Average Target 16%
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Lawrence E. Page Chief Executive Officer & Director
Sergey Mikhaylovich Brin President & Director
Eric E. Schmidt Executive Chairman
Ruth Porat Chief Financial Officer & Senior Vice President
Louis John Doerr Independent Director
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