SEATTLE — Expedia (NASDAQ: EXPE) has announced its plan to purchase Amgen’s waterfront campus in Seattle for $228.9 million. The online travel company will use the 40-acre campus for its new headquarters.
Expedia plans to update the 750,000-square-foot space with a new modern design. The acquisition includes additional land that could be used for future expansion. The campus is located at 1201 Amgen Court W.
The new headquarters features views of downtown Seattle, Mt. Rainier, the Puget Sound and the Olympic Mountains. Expedia will be relocating from its current space at 333 108th Ave. NE in nearby Bellevue.
Expedia CEO Dara Khosrowshahi and Seattle Mayor Ed Murray made the announcement Thursday, April 2, during a press conference.
“It has been a tough decision to leave Bellevue, which has been a welcoming and supportive home to Expedia for many years,” said Khosrowshahi.
“Owning an iconic waterfront headquarters will position us well in the competition for top talent and aligns with the ‘work hard, play hard’ culture that defines Expedia. We are thrilled to make Seattle our permanent home with a new headquarters befitting the growing global technology company we are.”
Biotech firm Amgen announced its plans to vacate the campus in July. It was the largest commercial biotech company in the area, according to reports. Its move will also eliminate about 660 jobs from Seattle’s biotech industry. The Thousand Oaks, Calif.-based company also announced it would close two facilities in Colorado, eliminating a total of 2,400 jobs.
Expedia plans to occupy its new space by 2018. The acquisition is expected to close in the second quarter of this year.
“We are highly supportive of Seattle’s commitment to attract and grow the pool of highly qualified talent in the area,” continued Khosrowshahi. “We’re excited to continue to be part of King County’s technology-based economy.”
Expedia paid $280 million in cash to acquire competitor Travelocity from Sabre Corp. this past January. The acquisition followed a strategic marketing agreement between Expedia and Travelocity in 2013.
Expedia now powers the technology platforms for Travelocity’s U.S. and Canadian websites. It also gives Travelocity access to Expedia’s supply and customer service program.
Expedia.com is the world’s largest full-service online travel agency. It has localized sites in 31 countries. In addition to Travelocity, Expedia also owns popular travel platforms like Hotels.com, Hotwire.com, Trivago.com and CarRentals.com.
Expedia’s stock price closed on Thursday, April 2, at $94.17 per share, up from $76.01 a year ago.