After massive investments, Facebook to buy Sun Microsystems campus

Facebook is spending the $500 million that it reportedly raised from Goldman Sachs and the Russian firm Digital Sky Technologies in buying the former corporate campus of Silicon Valley pioneer Sun Microsystems which was bought out by competitor Oracle last year, as reported by a reputed newspaper.

The terms of the deal for the buildings and 23-hectare site were not available. But the report said that the property had an appraised value of $228.4 million.

Facebook currently accommodates its 1,500 workers in several rented offices in Palo Alto near Stanford University, and the move to a purpose-built headquarters would allow it to concentrate its various units in one place.

However, Facebook declined to confirm or deny the report.