Meaning of “spin sth off” in the English Dictionary

"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.
See also

(Definition of “spin sth off” from the Cambridge Business English Dictionary © Cambridge University Press)