BREAKING: Google Announces a Major Corporate Restructuring; Creates New Parent Company

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Google CEO Larry Page and Google co-founder Sergey Brin unveiled  plans late Monday to create a new holding company structure to separate, at least in their financial results, Google’s core Internet businesses from some of it more “unorthodox” concepts such as DNA research, smart thermostats and self-driving cars.

The new holding company will be called Alphabet and will be formed as the publicly-traded entity owning Google and all of its varied other efforts.

The Google unit, which will report distinct financial results, will include only search, ads, maps, apps, YouTube and Android and the related technical infrastructure, the company said in a filing with the Securities and Exchange Commission. Businesses such as Calico, smart hardware maker Nest, and Fiber, as well as its investing arms, such as Google Ventures and Google Capital, and incubator projects, such as Google X, will be “managed separately from the Google business,” the company said.

Check out Google CEO Larry Page’s blog post announcing the changes: https://investor.google.com/releases/2015/0810.html

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