Google Buys 1 Billion Usd London Office

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Google Buys 1 Billion Usd London Office

Google Buys London Office for $1 billion

Google has bought a building in central London where the company operated its office as a tenant and employs about 6,400 people. The spending of $1 billion is sure to build confidence in the near future of it as a place of work. The building is near the Covent Garden.

The search giant said they have been operating in the United Kingdom for about twenty years and buying the Central Saint Giles is a gesture of their continued commitment to the success and growth of the country.

Google has plans of refitting the building to accommodate both hybrid working and in-person teamwork. More space will simultaneously be created for individuals. It will be equipped with outdoor covered working areas to facilitate working in the fresh air.

CEO of Alphabet, Google's parent company, said the company is working on enhancing the capacity in all its UK sites to accommodate about 10,000 workers.

Meanwhile, theUK finance minister said the investment of Google will create jobs in the country and this is a vote of confidence for them.

Google earlier mentioned the return-to-office plan is being delayed across the world due to concerns over the new COVID variant Omicron.

The building was earlier jointly owned by the Mitsubishi Estate London Limited and the Legal & General Investment Management Real Assets.

Google was founded in 1988 by Larry Page and Sergey Brin in the US. Over the years the company gained immense success for its various products and services including Google Search, Google News, Google Maps, YouTube, Android and Google Cloud. It is now one of the top 5 multinational technology companies in the world. It generates revenues mostly from advertising.

Google went public in August 2004 by offering 19,605,052 shares at the IPO and each share was priced at $85. It gained a market cap of over $23 billion.

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