Footnotes / references Financials as of March 31, 2024[update].[3]
Kyndryl Holdings, Inc. is an American multinationalinformation technology infrastructure services provider,[4][5][6] headquartered in New York City[7] 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.[4][5][6] 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,[4][5] 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.[4][13] The company was given the name Kyndryl in April 2021, with "Kyn" referencing "kinship" and "Dryl" referencing "tendril".[14] On November 4, 2021, Kyndryl completed its separation from IBM and began trading as an independent company on the New York Stock Exchange,[4][5] with Martin Schroeter as chairman and CEO.[15][16][17] Kyndryl operated in 63 countries in November 2021, and managed around 400 data centers.[18] By November 2021, Kyndryl had also partnered with Microsoft to provide digital transformation services using Microsoft Cloud products.[8][19] In December 2021, Kyndryl partnered with Google Cloud on digital transformation projects as well.[20] Kyndryl announced new reporting segments for its finances in January 2022.[21] Kyndryl partnered with Amazon Web Services in February 2022,[22] and in October 2022, Kyndryl and Microsoft created a data pipeline between Microsoft Azure and Kyndryl's zCloud platform.[23] In 2022, as ranked by revenue, CRN placed Kyndryl No. 6 on its list of largest IT solution providers in North America.[24] 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.[25] On 13 May 2024, Kyndryl announced the acquisition of Skytap and the divesture of Securities Industry Services to Broadridge Financial Solutions, as part of a portfolio optimization action.[26]
Services
Focused on IT services for businesses,[20] Kyndryl designs, builds, manages, and modernizes enterprise IT infrastructure systems,[4][17] with capabilities in artificial intelligence as well as data and analytics.[20] 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.[27][28] Kyndryl launched Kyndryl Bridge[29] and a business consulting segment in 2022.[30]
References
^"FORM 8-K". United States Securities and Exchange Commission. 4 November 2021.
