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- Officially formed in late 2021, Kyndryl was created from the spin-off of IBM 's infrastructure services, and comprises the bulk of the former IBM Global Technology Services. At year-end 2020, the spin-off had a portfolio of around 4,400 customers, including 75% of the Fortune 100.
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Kyndryl Holdings, Inc. (“Kyndryl”) was recently spun off from International Business Machines Corporation (“IBM”), with IBM distributing 80.1% of its Kyndryl shares to IBM shareholders on November 3, 2021 (the “Distribution”).
- IBM Shareholders Will Become Kyndryl Shareholders
- Kyndryl Will Be A $19 Billion Behemoth in A Massive Industry
- Kyndryl Is Free Cash Flow Positive If You Make Some Adjustments
- IBM Will Be Smaller But Have Higher Margins
- IBM Will Be Focused on The Hybrid Cloud
The plan has always been for IBM to distribute shares of Kyndryl to its shareholders in a tax-free transaction. We now know more about what that transaction will look like. IBM shareholders will receive at least 80.1% of Kyndryl's common stock when the spinoff is complete, with IBM retaining the remaining stake. IBM plans to exchange its stake in K...
Kyndryl is already a major player in the realm of designing, building, managing, and modernizing mission-critical technology systems. The company has 4,000 customers in more than 100 countries, and it generated $19.4 billion of revenue in 2020. Kyndryl estimates that its current addressable market is $415 billion. That market is expected to grow by...
Measuring the profitability of a business that's still part of a larger parent company can be difficult. On an unadjusted basis, Kyndryl produced a pre-tax loss of $1.8 billion and a free cash flow loss of $0.3 billion in 2020. These numbers don't necessarily reflect how Kyndryl will perform once it's officially a stand-alone company. Among other t...
IBM is giving up around $19 billion of annual revenue by spinning off Kyndryl, but it's not giving up all that much free cash flow. IBM reported revenue of $73.6 billion and free cash flow of $10.8 billion in 2020. Excluding Kyndryl, revenue would have been $57.5 billion and free cash flow would have been around $10 billion. IBM will provide more d...
While Kyndryl has a large market opportunity, managed infrastructure services is a labor-intensive business. Kyndryl will have around 90,000 employees, so revenue per employee will be just over $200,000. That's lower than Walmart, for comparison. What remains of IBM will be less focused on low-margin services and more focused on high-margin softwar...
NEW YORK, Nov. 4, 2021 /PRNewswire/ -- Kyndryl today announced that it has completed its previously announced spin-off from IBM (NYSE: IBM) and began trading as an independent company on the New York Stock Exchange under the ticker "KD".
Jan 26, 2023 · Kyndryl. Dealt a challenging hand out of the gate. When officially separated from IBM on November 4, 2021, Kyndryl started life with $2B in cash on its books, 4,000+ enterprise customers in 60 ...
Nov 4, 2021 · IBM completed the spinoff of its IT services business, betting that independence will make it easier to reverse a decline in revenue. The new company, Kyndryl, began trading on the New York Stock...
Kyndryl separated from IBM in November 2021 to become a standalone business focused on managed infrastructure services.
Nov 4, 2021 · NEW YORK, Nov. 4, 2021 -- Kyndryl today announced that it has completed its previously announced spin-off from IBM (NYSE: IBM) and began trading as an independent company on the New York Stock Exchange under the ticker “KD”.
