Kyndryl

Kyndryl. Kyndryl is a global provider of information technology infrastructure services, formed as an independent public company following its separation from IBM in November 2021. Headquartered in New York City, the company operates in over 60 countries, offering services that modernize, manage, and secure mission-critical technology systems for thousands of enterprise clients. Its portfolio includes cloud computing, artificial intelligence, cybersecurity, and mainframe modernization solutions, serving major industries such as financial services, telecommunications, and healthcare.

History

The company's origins are directly tied to the managed infrastructure services business of IBM, which was historically part of its Global Technology Services division. In October 2020, Arvind Krishna, the CEO of IBM, announced a strategic shift to focus on hybrid cloud and artificial intelligence, leading to the decision to spin off this services unit. The separation was completed on November 3, 2021, creating an independent entity listed on the New York Stock Exchange under the ticker symbol "KD". The name "Kyndryl", a portmanteau intended to evoke kinship and drive, was unveiled in April 2021. Since its launch, the company has pursued a strategy of forming key alliances with technology providers like Microsoft, AWS, Google Cloud, and SAP to expand its capabilities beyond its IBM heritage.

Operations

Kyndryl operates a vast global delivery network with a workforce of approximately 88,000 professionals, often referred to as "Kyndryls", across more than 60 countries. The company manages and modernizes complex technology estates for a large portion of the Fortune 100 and other major enterprises worldwide. Its operational model is built around deep expertise in managing and transforming legacy systems, including those running on IBM Z and IBM Power Systems platforms, while integrating new multi-cloud architectures. Key operational hubs and innovation centers are located in major markets including the United States, India, Japan, Germany, and Brazil, supporting its 24/7 service delivery for clients in regulated industries like banking and aviation.

Services

The company's service portfolio is organized around core technology domains critical to enterprise operations. Its cloud computing services include advisory, migration, and management for public, private, and hybrid cloud environments, leveraging partnerships with Microsoft Azure, AWS, and Google Cloud Platform. In cybersecurity, it offers managed security services, zero trust architecture implementation, and data protection solutions. A significant focus is on mainframe and application modernization, helping clients evolve legacy COBOL and PL/I applications. Other key offerings encompass network services, digital workplace solutions, and sustainability services, all increasingly infused with artificial intelligence and automation through its Kyndryl Bridge operational platform.

Leadership

Kyndryl is led by Chairman and Chief Executive Officer Martin Schroeter, a former IBM executive who served as its Senior Vice President and Chief Financial Officer. The senior leadership team includes Chief Financial Officer David Wyshner, formerly of American Airlines and Avis Budget Group, and President Elly Keinan, who oversees global markets and previously held senior roles at IBM and General Electric. Other key executives include Chief Technology Officer Antoine Shagoury and General Counsel Edward Sebold. The board of directors includes notable figures from the technology and financial sectors, such as Janina Kugel, former Chief Human Resources Officer of Siemens, and Stephen G. Pagliuca, Chairman of Bain Capital.

Financial performance

As an independent entity, the company reported revenue of US$16.7 billion for its fiscal year ending March 2024. While initially carrying a cost structure from its IBM legacy, the company has implemented a significant transformation program aimed at improving profitability, targeting a mid-single-digit adjusted pretax margin by the 2025 fiscal year. Key financial strategies include shifting its revenue mix toward higher-growth areas like cloud computing, security, and artificial intelligence, and reducing its dependency on lower-margin, legacy-centric managed services. Its financial results are closely watched by investors as an indicator of the demand for large-scale information technology infrastructure modernization and managed services.

Category:Information technology companies of the United States Category:Companies listed on the New York Stock Exchange Category:Companies established in 2021 Category:Companies based in New York City