Meaning of “spin sth off” in the English Dictionary

(Definition of “spin sth off” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"spin sth off" in Business English

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spin sth off

UK also spin sth out
phrasal verb with spin uk /spɪn/ us verb spinning, spun, spun, UK also span

COMMERCE, MARKETING, MANAGEMENT to separate part of a company so that it becomes an independent business:

The company plans to spin off its shipbuilding unit by the end of the year.
spin sth off from/of sth Schacht was the company's first CEO when it was spun off from AT&T.
CSR was spun out of Cambridge Consultants.
spin sth off into sth Management's solution was to spin off five of their brands into five companies.
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(Definition of “spin sth off” from the Cambridge Business English Dictionary © Cambridge University Press)