Financial Engines has struck a deal to expand its Silicon Valley operations and shift them and its headquarters to Sunnyvale from its long-time top offices in Palo Alto, the company said Thursday.
The company needs more space because it anticipates adding to its existing Silicon Valley workforce of 250 employees.
“We are a growing company,” said Matthew Todd, chief security officer with Financial Engines. “We’re planning for growth with this move.”
Financial Engines provides investment advice and portfolio management via the Internet and phones. The company went public in 2010, raising $127.2 million through the IPO. It’s been based in Palo Alto since 1997.
During the year that ended in September, Financial Engines generated sales of $136.3 million and profits of $16.7 million.
The company leased 81,000 square feet at the bustling Moffett Towers complex in Sunnyvale, said the Cornish & Carey Commercial realty brokers who arranged the deal. The project is owned by Jay Paul, a development firm.
Matthews wouldn’t offer specifics on any hiring plans Financial Engines might have.
At present, Financial Engines occupies 54,000 square feet on Embarcadero Road in Palo Alto. So the new Sunnyvale operations could accommodate potentially an additional 100 or more employees.
“Financial Engines is looking forward to scaling our business at Moffett Towers,” said Ray Sims, the company’s chief financial officer.
The company is expected to be in its new offices by June 2012, according to information provided by Phil Mahoney, an executive vice president with Cornish & Carey.
Moffett Towers has a tenant roster that reads like a who’s who of the tech sector. Among its occupants: Microsoft, Hewlett-Packard (HPQ), Motorola Mobility, Rambus and Comcast.
“We are encouraged by the growing number of innovative enterprises, like Financial Engines, that are choosing to take advantage of Moffett Towers,” said Janette D’Elia Sammartino, chief operating officer of Jay Paul.
Contact George Avalos at 925-977-8477. Follow him at twitter.com/george_avalos.
