Alphabet Plans Sale, Spinoff of Verily Unit, Executive Says
Alphabet Inc. is considering selling or spinning off its life sciences unit Verily, according to a senior executive's testimony. Verily has been technologically decoupled from Alphabet over the past two years, allowing for a potential sale or spinoff. This move is part of Alphabet's strategy to streamline its operations and focus on its core businesses. The executive did not provide further details on the timeline or specifics of the potential transaction. Verily, which was previously known as Google Life Sciences, is focused on developing healthcare technologies and has worked on projects such as smart contact lenses and disease-detecting wearables. The potential sale or spinoff of Verily reflects Alphabet's ongoing efforts to optimize its diverse portfolio of businesses and investments.
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