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Google parent Alphabet forms holding company, XXVI, to complete 2015 corporate reorganization

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Guy Moorhouse
Sep 04, 2017 14:00
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The company formerly known as Google — before it rebranded its “collection of companies” to Alphabet, in 2015, turning the main ad revenue business into a corporate unit wholly-owned by the parent entity — looks to have finally completed this process of business reorganization by forming a new holding company, called XXVI Holdings Inc.

Bloomberg reported the move on Friday, picking it up via an FCC filing.

The company confirmed the move in a statement, telling us: “We’re updating our corporate structure to implement the changes we announced with the creation of Alphabet in 2015.

This includes a conversion from Google Inc. to Google LLC and the creation of a new intermediate holding company under Alphabet, XXVI Holdings Inc.”

The creation of the new holding company — which is named, in typical Googley fashion, for the number of letters in the alphabet (displayed in Roman Numerals) — finally enables Alphabet to legally separate Google from divisions that were still technically subsidiaries, such as the self-driving unit it spun out in 2016 (as Waymo — which is currently embroiled in a legal fight with Uber), or its AI division DeepMind, which was acquired by Google in 2014.

The new holding company will own equity in each Alphabet company, enabling the shifting of the so-called “other bets” subsidiaries, which had technically still been held by Google to Alphabet — putting them all on the same legal footing as Google, according to Bloomberg.

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Guy Moorhouse
Sep 04, 2017 14:00
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