NewCo
A NewCo or Newco is a term used to describe a corporate spin-off, startup, or subsidiary company before they are assigned a final name, or to proposed merged companies to distinguish the to-be-formed combined entity with an existing company involved in the merger which may have the same (or a similar) name.[1] In a handful of cases the new company may retain the name "Newco".[2]
The term can also be used to describe a company that was created to replace its predecessor, which ceased to exist for reasons such as financial issues: the creation of a NewCo to continue the existence of Rangers F.C. was a notable example.[3]
Examples
- IBM GTS - Managed Infrastructure Services → Kyndryl[4]
- 3M’s data storage business (spun off in 1996) → Imation (later renamed GlassBridge in 2017)
- Abbott Laboratories pharmaceutical division → AbbVie
- Atlas Copco Mining and Rock Excavation Technique business area → Epiroc[5]
- AT&T computer hardware subsidiary → NCR
- Bayer chemicals operations → Lanxess
- BP petrochemicals group → Innovene
- Ford Motor Company vehicle components division → Visteon
- Hewlett-Packard instrumentation division → Agilent Technologies
- Karstadt Warenhaus AG merging with Quelle AG → Arcandor[1]
- Northwest Airlines regional operations → Compass Airlines
- Merged entity of NBC Universal & Comcast programming assets→ NBCUniversal
- RAG Beteiligungs-AG (Degussa, Steag, Immobilien AG → Evonik Industries[1]
- The Rangers Football Club plc (liquidated in 2012) → Sevco Scotland Ltd (later renamed The Rangers Football Club Ltd)[6]
- Siemens semiconductor subsidiary → Infineon
- Barnes & Noble's Nook subsidiary → Nook Media[7]
- DaimlerChrysler MTU Friedrichshafen division → Tognum[1] (later acquired by Rolls-Royce plc and now the Rolls-Royce Power Systems subsidiary)
- Merged entity of T-Mobile USA and MetroPCS → corporate name of T-Mobile US; kept both T-Mobile and MetroPCS (later modified to Metro by T-Mobile) brands[8]
References
- Bialek, Catrin (2007-09-12). "Konzern investiert Millionen - Die Kunst der Erneuerung" (in German). Handelsblatt. Retrieved 2019-11-24.
- "Oldco/Newco and the Transfer of Company Ownership". Parker, Smith & Feek – Business Insurance | Employee Benefits | Surety. 2010-10-19. Retrieved 2022-06-18.
- "Rangers newco refused SPL entry after chairmen vote". BBC Sport. 4 July 2012. Archived from the original on 14 November 2012. Retrieved 20 December 2012.
BBC Scotland has learned that 10 of the 12 clubs were in opposition, with Kilmarnock abstaining and Rangers voting in favour.
- Chaim Gartenberg (12 Apr 2021). "Kyndryl is IBM's wacky new name for its dry IT spinoff". The Verge. Retrieved 11 May 2022.
- Copco, Atlas. "All information on Epiroc split from Atlas Copco". Atlas Copco. Retrieved 2019-03-15.
- "Lord Nimmo Smith Commission" (PDF). Scottish Professional Football League. 28 February 2013. Archived from the original (PDF) on 19 December 2014. Retrieved 25 November 2014.
On 14 June 2012 a newly incorporated company, Sevco Scotland Limited, purchased substantially all the business and assets of Oldco, including Rangers FC, by entering into an asset sale and purchase agreement with the joint administrators.
- Indvik, Lauren (4 October 2012), Microsoft and B&N Name Joint Venture: Nook Media, Mashable, retrieved 8 November 2014
- "T-Mobile and MetroPCS Combination Complete - Wireless Revolution Just Beginning". Bonn, Germany and Bellevue, Washington. May 1, 2013. Archived from the original on 2014-10-06. Retrieved 2014-09-30.
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