PR92802

NEW YORK, Nov. 4, 2021 /PRNewswire=KYODO JBN/--

Begins Trading on NYSE as World's Largest Independent IT Infrastructure

Services Provider

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". Kyndryl celebrated becoming an

independent, publicly-traded company by ringing the Opening Bell at the

Exchange.

Photo - https://mma.prnewswire.com/media/1678498/Kyndryl_NYSE.jpg

"We are thrilled that Kyndryl is today an independent company -- with 90,000 of

the best and brightest professionals, a strong balance sheet and a path to

growth," said Martin Schroeter, Kyndryl's chairman and chief executive officer.

"There is a large and growing need for digital transformation services, and our

unrivaled global expertise in creating, managing and modernizing

mission-critical information systems positions us well in a market that will

expand to more than $500 billion by 2024. We look forward to the path ahead,

with a flatter and faster company that is at the heart of progress for our

customers and for the world."

Kyndryl launches as the world's largest IT infrastructure provider, with a

differentiated approach that integrates development, security and operations.

Kyndryl's 90,000 professionals worldwide deliver world-class advisory,

implementation and managed services to more than 4,000 global customers,

including 75% of the Fortune 100 and leading financial services,

telecommunications, retail, airline and automotive companies.

Kyndryl begins its independent life with a solid financial position, with $19

billion in annual revenue, investment-grade credit ratings and long-standing

customer relationships that drive annuity-like revenue streams. Kyndryl is led

by an experienced management team and a Board of Directors comprised of 10

leaders who bring diverse perspectives and experiences spanning technology,

financial services, government affairs, and academia.

Kyndryl shares were distributed on the evening of November 3 to shareholders of

IBM, who received one Kyndryl share for every five IBM shares owned. IBM has

temporarily retained 19.9 percent equity ownership of Kyndryl following this

distribution.

Kyndryl (NYSE: KD) designs, builds, manages and modernizes the complex,

mission-critical information systems that the world depends on every day.  

Kyndryl's nearly 90,000 employees serve customers in more than 60 countries

around the world.  For more information, visit www.kyndryl.com.

SOURCE:  Kyndryl

Media Contacts: Margaret Popper, Margaret.popper@kyndryl.com; Edward Barbini,

Edward.barbini@kyndryl.com;

Investor Contact: Ellie Hartman, Eleanor.hartman@kyndryl.com