IBM's former $19bn services business strikes out on its own after Big Blue divestment

IBM spinoff Kyndryl emerges as standalone business

Nima Green
clock • 1 min read
IBM's former $19bn services business strikes out on its own after Big Blue divestment

IBM has completed the separation of its $19bn (€16.47bn) managed infrastructure services business to become its own separate company, Kyndryl. Kyndryl will begin "regular way" trading on the New York Stock Exchange today under the symbol KD and each holder of IBM common stock will receive one share of Kyndryl common stock for every five shares of IBM common stock held on 25 October. "The separation of Kyndryl is one of many actions we are taking to sharpen our focus on hybrid cloud and AI,...

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