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The other half deployed in a drop pod?

Yes.

http://www.games-workshop.com/MEDIA_CustomProductCatalog/m3180059a_Space_Marines_v1.3_APRIL13.pdf

C:SM FAQ Page 1.
"...now 2 separate units for all game purposes..."

Yup. It's worth noting that this is a specific change to last edition, when you couldn't. The 6th ed FAQ updated the Combat Squad rule to break the unit before deployment instead of during.

As above. This is a big switch from 5th, when Combat Squadding was done on arrival for squads in Reserve. Now it's always done during the Deployment step of the game, prior to turn 1, and Combat Squads have special permission to share a transport together if they want.