Kyndryl announced today that it has completed the separation from IBM and began trading on the New York Stock Exchange, as an independent company, with the ticker “Kd”. “We are thrilled with the independence achieved by Kyndryl, a company with 90,000 professionals, a solid balance sheet and a future of growth,” he said. Martin Schroeter, president and CEO of Kyndryl. “The need to digital transformation services is growing and our global expertise in the creation, management and modernization of critical information systems positions us well in a market whose expansion will exceed $ 500 billion by 2024. We look forward to the road ahead. with a leaner and faster company capable of marking progress for our customers “.
Kyndryl looks like the largest IT infrastructure provider in the world, with a differentiated approach that integrates development, security and operations. Kyndryl’s expertise provides consulting, implementation and service management to more than 4,000 clients globally, including 75% of Fortune 100 companies and leading financial services, telecommunications, retail, aviation and automotive companies. Kyndryl begins its journey with a solid financial position, represented by $ 19 billion in annual revenue, an investment grade credit rating, and strong customer relationships which ensure fixed revenue streams. The company is led by a team of experienced managers and a board of ten leaders with diverse backgrounds ranging from technology to financial services, government affairs and academia.
The Kyndryl shares were distributed to IBM shareholders on the evening of November 3, at the rate of one Kyndryl stock for every five of IBM. After that, IBM temporarily holds 19.9% of Kyndryl’s capital. Kyndryl designs, builds, manages and updates the critical complex information systems that the world relies on on a daily basis. The company’s 90,000 employees serve customers in more than 60 countries around the world.
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