Home » Kyndryl, the $19bn IBM spin-off, launches today

Kyndryl, the $19bn IBM spin-off, launches today

by LLT Editor
4th Nov 21 11:26 am

Kyndryl today announced that it has completed its previously announced spin-off from IBM and began trading as an independent company on the New York Stock Exchange under the ticker “KD”.

“We are thrilled that Kyndryl is today an independent company — with 90,000 of the best and brightest professionals, a strong balance sheet and a path to growth,” said Martin Schroeter, Kyndryl’s chairman and chief executive officer.

“There is a large and growing need for digital transformation services, and our unrivaled global expertise in creating, managing and modernizing mission-critical information systems positions us well in a market that will expand to more than $500 billion by 2024. We look forward to the path ahead, with a flatter and faster company that is at the heart of progress for our customers and for the world.”

Tosca Colangeli, President UK & Ireland for Kyndryl, said: “The UK and Ireland market is alive with opportunity. We are starting independence with a strong foothold, working with more than 300 customers across all areas of the economy, to design, build, manage, modernise, and run the vital systems that help them remain competitive in an increasingly digital environment. In the UK and Ireland, Kyndryl has the technology integration capabilities and skills that support 70% of the UKI banking industry, this is an unprecedented footprint and benchmark of expertise.  Collectively, our UK and Ireland employees have 27,000 years of services experience.

“As you would expect from a true services company, at the core of our business is our people and we are looking forward to helping our customers unlock new possibilities enabled by our local talent.  We are confident that Kyndryl will remain essential to fuelling innovation, growth and progress for our customers.”

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