The Kyndryl Spin-off Approaches
As Kyndryl prepares for life as a public company independent of IBM, the managed infrastructure unit has disclosed an array of new details about its business and operations in a regulatory filing.
Revelations in Kyndryl’s new filing with the U.S. Securities and Exchange Commission cover topics such as Kyndryl’s declining revenue for the past several years, workforce reductions, the competitive landscape (including with competitors such as DXC Technology) and vendor partnerships beyond IBM (such as with VMware and Microsoft).
In the SEC filing, Kyndryl said it foresees taking part in a $415 billion market for providing “innovative services to design, run and modernize customer technology environments.”
“Kyndryl is uniquely positioned to address these IT services needs, as a natural extension of the role it plays supporting the mission critical technology infrastructure of the world’s most important businesses and institutions,” the filing says.
In a separate filing with the SEC on Tuesday, IBM said the spin-off of Kyndryl is still on track to be completed by the end of 2021. IBM is spinning off its managed infrastructure business as Kyndryl as the tech giant continues to sharpen its focus on priority areas such as hybrid cloud and artificial intelligence.
CRN has reached out to Kyndryl for comment. IBM declined to comment.
What follows are eight big new revelations about IBM’s Kyndryl spin-off.