Spin-out

When a big company has a part of their business that they don't want to keep anymore, they sometimes make a new company out of that part. It's like when you have a big toy and you take a smaller toy out of it to play with separately. That smaller toy is the new company, and it's called a spin-out. The spin-out company can do its own thing and make its own decisions without the big company telling it what to do. This can be a good thing because the spin-out company can focus on what it is good at and grow on its own.