Hyperion, a global leader in business performance management software, announced plans to relocate to a larger, more modern global headquarters located in Santa Clara, California. The approximately 220,000 square foot facility is more than twice the size of the current headquarters and will combine the software development, research, executive, marketing, sales and administrative functions currently housed in three buildings in Sunnyvale, Santa Clara and San Francisco, California.
The new two-building headquarters, located at 5450 Great America Parkway in Santa Clara, will house more than 600 employees. The headquarters will also feature a customer briefing center as well as education facilities for customers, partners and employees.
"There is a great advantage to having all of our Northern California staff in one location," said Godfrey Sullivan, Hyperion's president and chief operating officer. "A unified headquarters facility will help us innovate more rapidly and will support our future growth."
Hyperion expects to take a restructuring charge of approximately $2 million during the quarter ending September 30, 2004, when it plans to relocate the employees from its San Francisco facility to its Santa Clara offices on a temporary basis. The company plans to begin relocating employees from its Sunnyvale and Santa Clara offices into the new headquarters during the quarter ending December 31, 2004 and expects to record a restructuring charge of approximately $6 million at that time.
The company's operating expense run rate for the new worldwide headquarters will not be materially different from current expense levels for its existing three separate facilities.
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