Company:Kyndryl

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Short description: U.S. information technology company
Kyndryl Holdings, Inc.
TypePublic
ISIN[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=US50155Q1004 US50155Q1004]
Industry
  • IT Services
  • IT Consulting
FoundedNovember 3, 2021; 2 years ago (2021-11-03)[1]
Headquarters
One Vanderbilt,[2] New York, New York, U.S.
Area served
Worldwide
Key people
Martin Schroeter (CEO)
ServicesManaged infrastructure
RevenueDecreaseUS$17 billion (March 2023)[3]
Number of employees
87,708 (January 2023)[4]
Websitewww.kyndryl.com

Kyndryl Holdings, Inc. is a multinational information technology infrastructure services provider.[5][6][7] Headquartered in New York City[2] and created from the spin-off of IBM's infrastructure services business in 2021, the company designs, builds, manages and develops large-scale information systems.[5][6][7] The company also has business advisory services.[8][9][10] It is currently the world's largest IT infrastructure services provider, and the fifth-largest consulting provider.[9]

History

Officially formed in late 2021, Kyndryl was created from the spin-off of IBM's infrastructure services,[5][6] and comprises the bulk of the former IBM Global Technology Services.[11][12] At year-end 2020, the spin-off had a portfolio of around 4,400 customers, including 75% of the Fortune 100.[5][13] After having a placeholder name of NewCo, it was given the name Kyndryl in April 2021, with "Kyn" referencing "kinship" and "Dryl" referencing "tendril".[13][14][15][16] On November 4, 2021, Kyndryl completed its separation from IBM and began trading as an independent company on the New York Stock Exchange,[5][6] with Martin Schroeter as chairman and CEO.[17][18][19] Kyndryl operated in 63 countries in November 2021, and managed around 400 data centers.[20] By November 2021, Kyndryl had also partnered with Microsoft to provide digital transformation services using Microsoft Cloud products.[8][21] In December 2021, Kyndryl partnered with Google Cloud on digital transformation projects as well.[22] Kyndryl announced new reporting segments for its finances in January 2022.[23] Kyndryl partnered with Amazon Web Services in February 2022,[24] and in October 2022, Kyndryl and Microsoft created a data pipeline between Microsoft Azure and Kyndryl's zCloud platform.[25] In 2022, as ranked by revenue, CRN placed Kyndryl No. 6 on its list of largest IT solution providers in North America.[26] On September 28, 2023, the Financial Times quoted sources saying that Kyndryl was separating its Chinese arm, saying the decision was influenced by increased tensions between the United States and China.[27]

Services

Focused on IT services for businesses,[22] Kyndryl designs, builds, manages, and modernizes enterprise IT infrastructure systems,[5][19] with capabilities in artificial intelligence as well as data and analytics.[22] In late 2021, Kyndryl listed its six service areas as: cloud, security and resiliency, network and edge computing, digital workplace, core enterprise and zCloud, and applications, data, and AI.[28][29] Kyndryl launched Kyndryl Bridge[30] and a business consulting segment in 2022.[31] 

References

  1. ↑ "FORM 8-K". United States Securities and Exchange Commission. 4 November 2021. https://www.sec.gov/Archives/edgar/data/1867072/000110465921134456/tm2131654d1_8k.htm. 
  2. ↑ 2.0 2.1 "Kyndryl Locations". Kyndryl. n.d.. https://www.kyndryl.com/au/en/about-us/locations. 
  3. ↑ "KYNDRYL REPORTS FOURTH QUARTER AND FULL-YEAR 2023 RESULTS". Kyndryl. May 16, 2023. https://investors.kyndryl.com/static-files/f63144d6-bdc5-458b-9334-08c7c43a2f4f. 
  4. ↑ "Kyndryl 2023 proxy statement". Kyndryl. June 14, 2023. https://investors.kyndryl.com/static-files/6994fef0-bc07-447e-a7c4-d5cea64c8e2e. 
  5. ↑ 5.0 5.1 5.2 5.3 5.4 5.5 "IBM Spinoff Kyndryl Starts Quest for Growth". Wall Street Journal. November 4, 2021. https://www.wsj.com/articles/ibm-spinoff-kyndryl-starts-quest-for-growth-11636023600. 
  6. ↑ 6.0 6.1 6.2 6.3 "Kyndryl officially launches as IBM spins out $19B infrastructure services biz". TechCrunch. November 4, 2021. https://techcrunch.com/2021/11/04/kyndryl-officially-launches-as-ibm-spins-out-infrastructure-services-biz-as-separate-company/. 
  7. ↑ 7.0 7.1 "IBM CEO discusses IT infrastructure service Kyndryl". CNBC. November 4, 2021. https://www.cnbc.com/video/2021/11/04/ibm-ceo-discusses-it-infrastructure-service-kyndryl.html. 
  8. ↑ 8.0 8.1 Majumdar, Romita (November 26, 2021). "Rivals eyeing IBM spinoff Kyndryl's sub-$50 million clients, experts say". The Economic Times. https://economictimes.indiatimes.com/tech/information-tech/rivals-eyeing-ibm-spinoff-kyndryls-sub-50-million-clients-experts-say/articleshow/87920533.cms. 
  9. ↑ 9.0 9.1 "What is Kyndryl? IBM's managed infrastructure services spin-off explained". CIO. October 6, 2021. https://www.cio.com/article/189224/what-is-kyndryl-ibms-managed-infrastructure-services-spin-off-explained.html. 
  10. ↑ "India important market; drives significant value for global customers: Kyndryl". The Economic Times. February 2, 2022. https://economictimes.indiatimes.com/news/company/corporate-trends/india-important-market-drives-significant-value-for-global-customers-kyndryl/articleshow/89293257.cms. 
  11. ↑ "IBM revenue misses on weakness in legacy infrastructure unit". Reuters. October 20, 2021. https://www.reuters.com/technology/ibm-revenue-misses-weakness-legacy-infrastructure-unit-2021-10-20/. 
  12. ↑ "IBM to break up 109-year old company to focus on cloud growth". Reuters. October 8, 2020. https://www.reuters.com/article/ibm-divestiture/ibm-to-break-up-109-year-old-company-to-focus-on-cloud-growth-idUSKBN26T1V1. 
  13. ↑ 13.0 13.1 "IBM's Services Spinoff Gets a Name. What It Means.". Barrons. April 12, 2021. https://www.barrons.com/articles/ibms-services-spinoff-gets-a-name-what-it-means-51618242164. 
  14. ↑ "IBM to name infrastructure services business 'Kyndryl' after spinoff". Reuters. April 12, 2021. https://www.reuters.com/article/us-ibm-divestiture/ibm-to-name-infrastructure-services-business-kyndryl-after-spinoff-idUSKBN2BZ1OR. 
  15. ↑ "The IT establishment is dressing in new clothes". The Economist. November 6, 2021. https://www.economist.com/business/the-it-establishment-is-dressing-in-new-clothes/21806076. 
  16. ↑ Chaim Gartenberg (12 Apr 2021). "Kyndryl is IBM's wacky new name for its dry IT spinoff". The Verge. https://www.theverge.com/tldr/2021/4/12/22380114/kyndryl-ibm-it-spinoff-name-infrastructure-branding. 
  17. ↑ "IBM sheds 25% of its business in battle against decade of decline". Financial Times. November 4, 2021. https://www.ft.com/content/ded67317-682d-4cd9-8e41-fc72646dee12. 
  18. ↑ Shivdas, Sanjana; Rai, Sonam (January 11, 2018). "IBM names James Kavanaugh as CFO, replacing Schroeter". Reuters. https://www.reuters.com/article/us-ibm-jobs/ibm-names-james-kavanaugh-as-cfo-replacing-schroeter-idUSKBN1F01O0. 
  19. ↑ 19.0 19.1 "IBM names head of new IT infrastructure services company". Reuters. January 7, 2021. https://www.reuters.com/article/us-ibm-divestiture-ceo/ibm-names-head-of-new-it-infrastructure-services-company-idUSKBN29C1DQ. 
  20. ↑ Murray, Alan; Meyer, David (November 4, 2021). "IBM's IT services spin-off, Kyndryl, hits the market today". Fortune. https://fortune.com/2021/11/04/ibm-it-services-spin-off-kyndryl-hits-market-ceo-daily/. 
  21. ↑ Lin, Belle (November 19, 2021). "Tech giants like Microsoft and VMware are rushing to partner with Kyndryl, the spinoff of IBM's consulting arm". Business Insider. https://www.businessinsider.com/kyndryl-microsoft-vmware-sap-partnership-with-former-ibm-consulting-services-2021-11. 
  22. ↑ 22.0 22.1 22.2 "Kyndryl adds Google Cloud to its portfolio of multi-vendor partnerships". The Economic Times. December 10, 2021. https://economictimes.indiatimes.com/tech/information-tech/kyndryl-adds-google-cloud-to-its-portfolio-of-multi-vendor-partnerships/articleshow/88201296.cms. 
  23. ↑ Nakrosis, Stephen (January 31, 2022). "Kyndryl Announces New Reporting Segments, Fiscal Year". MarketWatch. https://www.marketwatch.com/story/kyndryl-announces-new-reporting-segments-fiscal-year-271643666686. 
  24. ↑ Kyndryl, AWS Sign Deal with Aim to Train 10,000 Workers by Year's End, CRN, 24 February 2022, https://www.crn.com/news/cloud/kyndryl-aws-sign-deal-with-aim-to-train-10-000-workers-by-year-s-end, retrieved 28 January 2024 
  25. ↑ Kyndryl, Microsoft Partner on Mainframe Pipeline to Azure, CRN, 6 October 2022, https://www.crn.com/news/data-center/kyndryl-microsoft-partner-on-mainframe-pipeline-to-azure, retrieved 28 January 2024 
  26. ↑ 2022 Solution Provider 500, CRN, 2022, https://www.crn.com/sp-500/sp2022.htm, retrieved 28 January 2024 
  27. ↑ Wiggins, Kaye; Waters, Richard (2023-09-28). "IBM’s former IT services group plans to separate its China business". https://www.ft.com/content/b7ee6f8c-356f-44f9-8710-ec6ac7eabaa5. 
  28. ↑ Majumdar, Romita; Krishnan, Raghu (November 5, 2021). "'Kyndryl starts in India with twice the market share of closest rival'". The Economic Times. https://economictimes.indiatimes.com/tech/information-tech/kyndryl-starts-in-india-with-twice-the-market-share-of-closest-rival/articleshow/87523725.cms. 
  29. ↑ "Kyndryl sees India as big opportunity for talent, growth: CEO". The Economic Times. November 17, 2021. https://economictimes.indiatimes.com/tech/information-tech/kyndryl-sees-india-as-big-opportunity-for-talent-growth-ceo/articleshow/87756123.cms. 
  30. ↑ Kyndryl Bridge Promises App, Provider Integration and Automation, CRN, 30 September 2022, https://www.crn.com/news/cloud/kyndryl-bridge-promises-app-provider-integration-and-automation, retrieved 28 January 2024 
  31. ↑ Paul, Gillin (26 October 2022), Kyndryl branches out into business consulting, SiliconAngle, https://siliconangle.com/2022/10/26/kyndryl-branches-business-consulting/, retrieved 28 January 2024 

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