Google created this company only to destroy it

  03 October 2015    Read: 950
Google created this company only to destroy it
It`s official: When the markets open Monday, what once was traded as Google will become Alphabet.
This change took a lot of behind-the-scenes financial wizardry: A US Securities and Exchange Commission document filed Friday shows that Google created a company called Maple Technologies Inc. ... only to destroy it once the changeover to Alphabet was done.

Reading the SEC document too closely will give you a headache, but here`s how it worked, as we currently understand it:

1,Google created Maple Technologies as a wholly owned subsidiary.

2,Maple Technologies was given a controlling share of Google by Google.

3,The newly formed Alphabet "acquired" Maple Technologies.

4,Now Alphabet owns Google.

5,Maple Technologies, no longer necessary, merges back into Google — the subsidiary — and is discarded.

6,This kind of shuffle is pretty common in corporate America. If you`re ever watching a spy TV show and they mention "shell companies," this is kind of what they`re talking about.

But why "Maple Technologies"? We don`t know. Maybe Larry and Sergey like their syrup ...

More about: