IBM Board Approves Kyndryl Separation
October 8, 2020, International Business Machines Corporation (“IBM”) announced its intention to separate the Managed Infrastructure Services business of their Global Technology Services segment into a new public company, Kyndryl. The result will be two industry-leading companies with strategic flexibility and focus to drive client and shareholder value. Since that announcement, IBM moved its managed infrastructure services business into Kyndryl entities that are wholly owned IBM subsidiaries. Subsequently, ISM became a wholly owned subsidiary of Kyndryl Canada.
Our parent company, Kyndryl, is now ready to become an independent, publicly traded entity through the distribution of Kyndryl shares anticipated to take place on November 3, 2021. You can read more about that here.
ISM, IBM, and Kyndryl are grateful to have the support of our employees, customers, partners, and other stakeholders. We are thankful to our customers for giving us the opportunity to help their businesses continue to succeed in the future.