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Events on Wednesday 3 November 2021 1
2021Kyndryl spinoff — IBM simplifiesIBM completes the spinoff of Kyndryl — its managed infrastructure services division — on 3 November 2021, listing it as an independent company on the NYSE. Kyndryl begins with $19 billion in revenues and 90,000 employees, making it one of the world's largest IT services companies. For IBM, the spinoff removes the legacy services business that was dragging down growth and margins, leaving a more focused company oriented around hybrid cloud (Red Hat/OpenShift) and AI.