The new entity, called XXVI Holdings Inc., will own the equity of each Alphabet company, including Google. Google co-founder Larry Page announced Alphabet two years ago to foster new businesses that operate independently from Google. The switch is partly related to Google’s transformation from a listed public company into a business owned by a holding company. “We’re updating our corporate structure to implement the changes we announced with the creation of Alphabet in 2015,” Johnson said. XXVI, the name of the new holding entity, is the number of letters in the alphabet expressed in Roman numerals.

Source: Mint September 02, 2017 07:30 UTC