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Google formally becomes Alphabet, on the inside
2015-10-05 08:59:00| Telecompaper Headlines
(Telecompaper) Google's reinvention as tech holding company Alphabet, announced in August, legally took place on 2 October, with the company telling the Financial Times that the legal formalit will have no immediate outward effects. When the stock market opens on 5 October, the old Google will have been replaced by the new Alphabet, though its two classes of publicly traded shares will continue under their old ticker symbols, GOOG and GOOGL. The company said that, now the new legal form was in place, it would start to carve out its different divisions into wholly owned subsidiaries, including the Google internet business, the source of almost all its income. These include "smart city" venture Sidewalk Labs; "smart home" company Nest; biotech arm Calico; and Google Life Sciences. Google Ventures, Google Capital and the Google X research labs will also become subsidiaries.
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