The San Jose Mercury News reports today that Apple has purchased HP’s huge Cupertino Campus for around the asking price of $300 million.   Apple has been looking for space and has finally aquiered the aging HP campus which is adjacent to additional land in Cupertino that Apple bought in 2006.

Jobs talks about his reason for purchasing the first bit of land in Cupertino in 2006 (the sound is not synched):

One can  only image what Apple is going to do with the new space.  I forecast a city-approved monorail that transports people/freight along I280 between campuses.

The huge, sprawling (former) HP campus can be seen below:

It dwarfs Apple’s main campus.