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November 2021
- Kyndryl separated from IBM in November 2021 to become a standalone business focused on managed infrastructure services. Over time, it’s taken advantage of its freedom to introduce new services and work with new partners.
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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...
Nov 07, 20239 mins. IBMIBM Global ServicesManaged IT Services. To sharpen its focus on AI and the cloud, IBM spun off its legacy IT activities as an independent business. Now that company,...
- Peter Sayer
Jan 26, 2023 · 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+ countries, and annual revenues of nearly $19B....
Nov 4, 2021 · 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".
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”.
Nov 4, 2021 · IBM Spinoff Kyndryl Starts Quest for Growth. The company is hoping to help customers manage their growing forays into the cloud. By. John McCormick. Updated Nov. 4, 2021 5:51 pm ET. Share....
