It's official. Google is now a subsidiary of its new parent company, Alphabet.

The company first announced plans to restructure its business in August, with the announcement including that Sundar Pichai would step up as Google CEO and that Larry Page would serve as CEO and Sergey Brin would serve as President.

As part of the transition, Google stock will translate exactly into stock in Alphabet, however, the GOOG and GOOGL ticker will remain the same. Shareholders' rights will also remain the same.

"There will be no change to any day-to-day operations, just a legal filing to officially establish the structure," said a Google spokesperson in an email with Wired.

Really, this won't change much about Google, or Alphabet, as we now know it. The company known as Google will continue to take care of all of the company's Internet-related products, such as search and Android, while unrelated things like Calico, the company's biotechnology division, will fall under the umbrella of Alphabet rather than Google. Really, this just allows separate businesses to be run independently of each other.

One impact that the change could have is that companies under Alphabet's ownership that aren't Google will be able to run a lot more smoothly and efficiently, and will likely be able to launch more products and projects.

While the announcement is really a formality, if all goes to plan, each company under the newly-minted Alphabet will be a lot more efficient.