By Aaron Tilley 

Oracle Corp. said it has changed its corporate headquarters to Austin, Texas, the latest high-profile defection from Silicon Valley.

The database company and a Silicon Valley stalwart said the move was part of a wider effort to have a "more flexible employee work location policy."

Oracle was founded in Santa Clara, Calif. In 1977 and most recently had its up the road in headquarters in Redwood City.

The database company and its founder and chairman Larry Ellison are pillars of the Bay Area. Oracle's name adorns the stadium home to the San Francisco Giants. Mr. Ellison is known for his lavish homes in the region.

Oracle joins others in leaving the region that for decades has been synonymous with America's tech industry.

Hewlett Packard Enterprise Co. earlier this month said it was moving its headquarters to the Houston area.

Palantir Technologies Inc., founded in the Bay Area in 2003, moved its headquarters to Denver this year. Palantir co-founder Joe Lonsdale, a venture capitalist, moved to Austin this year.

Write to Aaron Tilley at aaron.tilley@wsj.com

 

(END) Dow Jones Newswires

December 11, 2020 17:46 ET (22:46 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.