Company type | Public |
---|---|
ISIN | US50155Q1004 |
Industry |
|
Founded | November 3, 2021 [1] |
Headquarters | One Vanderbilt, New York City, U.S. |
Area served | Worldwide |
Key people | Martin Schroeter (CEO) |
Services | Managed infrastructure |
Revenue | US$16.1 billion (2024) |
US$−340 million (2024) | |
Total assets | US$10.6 billion (2024) |
Total equity | US$1.12 billion (2024) |
Owners |
|
Number of employees | c. 80,000 (2024) |
Website | kyndryl |
Footnotes /references Financials as of March 31,2024 [update] . [3] |
Kyndryl Holdings, Inc. is an American multinational information 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]
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]
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]
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