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Google Becomes Alphabet, Spins Off Google

posted by takyon on Monday August 10 2015, @10:35PM   Printer-friendly
from the abc-wtf dept.

FrogBlast writes:

Google is now a wholly owned subsidiary of a new company called "Alphabet", to be run by Larry Page and Sergei Brin. Sundar Pichai will be CEO of Google, which will remain focused on its core of web-related products. Alphabet will serve as and umbrella for Google's now quite diverse projects, with a separate CEO for each. By way of example, the announcement cites a Life Sciences group, and a group called Calico which is focused on longevity.

All stock in Google will be converted to Alphabet stock, with the same rights and number of shares.

The announcement.

takyon: The Register, The New York Times, Wired, MarketWatch.

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  • (Score: 0) by Anonymous Coward on Tuesday August 11 2015, @01:24AM

    by Anonymous Coward on Tuesday August 11 2015, @01:24AM (#221028)

    They are not spinning off anything. All subsidiary operations will remain owned by the parent company.