Over the past few months or years, Google has been investing resources into many new applications and platforms - things that include driverless cars, the 'smart-home' nicknamed Nest, investments into future research, forays into new space applications and such stuff.
It appears that the time is ripe for Google to roll out many of the fruits of their innovation forays.
According to Google, the new Google will focus on their current core areas such as search, maps, streaming videos and apps. The new and emerging opportunities will become part of the new holding company Alphabet Inc.
It is hard to understand the exact reason for the move, but one gets the feeling that over time, the current core businesses will become a small part of the overall A-Z alphabet of the company's offering and the future Google will be a small portion of the total entity.