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Type | Public company |
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ISIN | US50155Q1004 |
Industry |
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Founded | November 3, 2021 |
Headquarters | New York, New York, U.S. |
Area served | Worldwide |
Key people | Martin Schroeter (Chairman and CEO) |
Services | Managed Infrastructure |
Revenue | ![]() |
Number of employees | 90,000 (2021) |
Website | www |
Kyndryl Holdings, Inc. is an American multinational information technology infrastructure services provider that designs, builds, manages and develops large-scale information systems.[1][2][3] The company was created from the spin-off of IBM's infrastructure services business.
History
Kyndryl was created from the spin-off of IBM's infrastructure services business, which made up the bulk of IBM Global Technology Services.[4][5] At year-end 2020, this business serviced a portfolio of nearly 4,400 customers, including 75% of the Fortune 100.[1][6] It was given the name Kyndryl in April 2021.[6][7][8]
On November 4, 2021, Kyndryl completed its separation from IBM and began trading as an independent company on the New York Stock Exchange under the ticker "KD."[1][2] Kyndryl is led by chairman and chief executive officer Martin Schroeter, who served as IBM's Chief Financial Officer from 2014 through the end of 2017.[9][10][11]
Kyndryl designs, builds, manages and modernizes enterprises' IT infrastructure systems.[1][11] The company is separated into six global managed services practices, including: cloud; applications, data, and AI; core enterprise and zCloud; digital workplace; network and edge; and security and resiliency.[12][13] It also operates a customer advisory practice that combines managed services, advisory services, and implementation.[14][15][16] The company operates in 63 countries and has over 400 data centers under management.[17]
Kyndryl partnered with Microsoft to provide digital transformation services to customers while using Microsoft Cloud products. Under the agreement, Microsoft became Kyndryl's Premier Global Alliance Partner with the two companies working together to accelerate hybrid cloud adoption, modernize business applications and processes, support workloads, and enable modern work experiences.[14][18]
On January 31, 2022, Kyndryl announced it was changing its geographic reporting segments and segment metrics. Measures of segment performance will be revenue and Adjusted EBITDA.[19]
Kyndryl formed a strategic partnership with Google Cloud focused on digital transformation projects and helping enterprise customers become more data-driven and sustainable, combining the firms' capabilities in data and analytics, artificial intelligence, and infrastructure modernization.[20]
References
- ^ a b c d "IBM Spinoff Kyndryl Starts Quest for Growth". Wall Street Journal. November 4, 2021.
- ^ a b "Kyndryl officially launches as IBM spins out $19B infrastructure services biz". TechCrunch. November 4, 2021.
- ^ "IBM CEO discusses IT infrastructure service Kyndryl". CNBC. November 4, 2021.
- ^ "IBM revenue misses on weakness in legacy infrastructure unit". Reuters. October 20, 2021.
- ^ "IBM to break up 109-year old company to focus on cloud growth". Reuters. October 8, 2020.
- ^ a b "IBM's Services Spinoff Gets a Name. What It Means". Barrons. April 12, 2021.
- ^ "IBM to name infrastructure services business 'Kyndryl' after spinoff". Reuters. April 12, 2021.
- ^ "The IT establishment is dressing in new clothes". The Economist. November 6, 2021.
- ^ "IBM sheds 25% of its business in battle against decade of decline". Financial Times. November 4, 2021.
- ^ "IBM names James Kavanaugh as CFO, replacing Schroeter". Reuters. January 11, 2018.
- ^ a b "IBM names head of new IT infrastructure services company". Reuters. January 7, 2021.
- ^ "Kyndryl starts in India with twice the market share of closest rival". The Economic Times. November 5, 2021.
- ^ "Kyndryl sees India as big opportunity for talent, growth: CEO". The Economic Times. November 17, 2021.
- ^ a b "Rivals eyeing IBM spinoff Kyndryl's sub-$50 million clients, experts say". The Economic Times. November 26, 2021.
- ^ "What is Kyndryl? IBM's managed infrastructure services spin-off explained". CIO. October 6, 2021.
- ^ "India important market; drives significant value for global customers: Kyndryl". The Economic Times. February 2, 2022.
- ^ "IBM's IT services spin-off, Kyndryl, hits the market today". Fortune. November 14, 2021.
- ^ "Tech giants like Microsoft and VMware are rushing to partner with Kyndryl, the spinoff of IBM's consulting arm". Business Insider. November 19, 2021.
- ^ "Kyndryl Announces New Reporting Segments, Fiscal Year". MarketWatch. January 31, 2022.
- ^ "Kyndryl adds Google Cloud to its portfolio of multi-vendor partnerships". The Economic Times. December 10, 2021.
External links
- Official website
- Business data for Kyndryl Holdings, Inc.: