Google is now officially 'Alphabet'

Google Officially Becomes 'Alphabet'

Google announced that its reorganization as Alphabet will be finalized officially by the close of business
on Friday, and its stock will transition from Google shares to Alphabet shares.

Mountain View, California-based Google said in August it would create a new company that would oversee both its highly lucrative Internet business and its growing flock of other ventures like building self-driving cars and researching ways to prolong human life.

The goal is to provide more independence for divisions like Nest, which makes Internet-connected home appliances, and Calico, which is conducting cutting-edge health research.

As part of the reorganization, Google itself will continue to exist under the leadership of CEO Sundar Pichai, while Alphabet serves as “a collection of companies” led by CEO Larry Page.

Here's the full statement:

Google Inc. announced today that, pursuant to its previously announced plans to create a new public holding company, Alphabet Inc. ("Alphabet"), by implementing a holding company reorganization (the "Alphabet Merger"), it expects that the Alphabet Merger will close after the close of business on October 2, 2015. Google anticipates that shares of Google Class C Capital Stock and shares of Google Class A Common Stock will begin trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on the NASDAQ Global Select Market on October 5, 2015. Shares of Alphabet Class C Capital Stock and shares of Alphabet Class A Common Stock will continue to be traded under the same ticker symbols under GOOG and GOOGL, respectively.