Google Inc., Web search leader, announced on Wednesday that it plans to pay $319 million for about 978,000 square feet of property as it expands its headquarters in Mountain View, Calif.

Google's existing headquarters at 1600 Amphitheatre Parkway and nearby property that is home to Silicon Graphics Inc., a computer imaging company that is in bankruptcy protection are included in the purchase.

Locations will be in Mountain View in the Silicon Valley area about 40 miles south of San Francisco. The company announced the planned purchase in a regulatory filing. Google has been hiring aggressively as it seeks to cement its position as the No. 1 Internet search provider. Google competes for talent with Yahoo, eBay and Microsoft, among other technology companies.

It was announced by the company that it agreed to buy the properties from WXII/Amphitheatre Realty LLC and related entities. The company said it paid $10 million into escrow on June 9 and expects the sale to close by the end of June.

By Mabelle Sese
jump2top.com