Google Creates Parent Company Called Alphabet in Restructuring

Google Inc. unveiled a sweeping reorganization that separates its highly profitable search and advertising business from fledgling efforts in an array of so-called moonshots.

Google said Monday it had created a holding company, Alphabet Inc., that will manage each of its growing cast of businesses, including those building robots and self-driving cars, helping to cure disease, developing nanoparticles and extending Internet connectivity via balloons.