Apple Acquires Nearly 100 Acres Near Cupertino HQ

 Cupertino-based Apple reported $65 billion in sales for its fiscal year ended in September, a 50% increase over last year, and added 12,300 employees. 

With iPads, iPhones, laptops and other products flying off the shelves this holiday season, fast-growing Apple Inc. has closed on the purchase of Hewlett Packard's nearly 100-acre campus site in Cupertino, CA. The transaction effectively doubles the size of Apple's holdings in its headquarters city in the Silicon Valley. 

A grant deed, with Apple listed as the buyer and HP as the seller, was filed with the Santa Clara County Recorder's Office on Nov. 16. Hewlett Packard President and CEO Leo Apotheker mentioned the transaction, without naming Apple as the buyer, in the company's quarterly earnings call on Nov. 22. Apotheker revealed that the company completed the sale of its Cupertino campus and will be consolidating those operations into the computer company's Palo Alto global headquarters over the next three years. 

The price and other terms were not immediately available for the sale, first reported by the San Jose Mercury News. Cupertino-based Apple reported $65 billion in sales for its fiscal year ended in September, a 50% increase over last year, and added 12,300 employees. 

The site is part of the city of Cupertino's North Vallco Master Plan, east of Apple’s Infinite Loop headquarters. The HP campus is bounded by Homestead Road on the north, Wolfe Road on the west, Tantau Road on the east and Pruneridge Avenue on the south. 

Apple bought 50 acres south of Pruneridge in 2006 for a reported campus extension, so the acquisition gives the tech company more than 140 contiguous acres from Homestead south to Interstate 280.