Kyndryl, the spin-off of IBM, was born with half of the Ibex among its clients

IBM segregates its infrastructure service business, which becomes independent under the name Kyndryl and which begins trading this Thursday on the New York Stock Exchange under the name of KD.

The project is presented as "the largest startup in the world as an independent company listed on the Stock Exchange" and seeks to expand globally with services to third-party brands outside IBM.

In reality, Kyndril has little of a startup, which was born with 90,000 employees and 4,000 clients;

among many others, 45% of the Ibex 35 companies.

If the turnover of last year was calculated for IBM in 73,000 million dollars, Kyndryl estimates that it will be able to generate around 19,000 million of income.

Thus,

, more than a quarter.

"There is a growing need for digital transformation services and our experience in creating, managing and modernizing critical computer systems puts us in an excellent position in a market that will grow to exceed 500,000 million dollars in 2024," he argued about this.

Martin Schroeter, president and CEO of the new company.

"The separation of IBM doubles our market from 240,000 million dollars to 510,000 million dollars", has detailed Luis Roca, president of Kyndryl in Spain and Portugal. The company, which would double its immediate rival in business, relies on the growth in demand for digital transformation services, the migration to the cloud, the greater relevance of data, the creation of secure systems and the development of new technologies . Kyndryl will be dedicated, for example, to helping third parties in virtualization, to provide them with cloud support or to cement their cybersecurity systems.

"We can already work with an ecosystem of partners," Roca stressed about the estimate that the business will double once the spin off with respect to IBM becomes effective. This company, a century-old giant called

, is going to focus on the business of applications, hardware, artificial intelligence services like Watson and, above all, the so-called cloud computing. Kyndryl, however, will be able to work with the IBM cloud or with that of its rivals, such as Amazon Web Services, Microsoft Azure or Google Cloud. It is already an independent business, although twinned.

"In Spain and Portugal we are leaders," said Roca at the presentation in Madrid of Kyndryl, which takes its name from

(kinship in English) and

(tendril, in reference to growth).

Certainly, few newly born companies manage to work with 45% of the members of the Ibex on their first day as an independent company.

Kyndryl has 4,000 clients, 250 of them on the Iberian Peninsula.

are among these, as well as Social Security, the Generalitat of Catalonia or the Insurance Compensation Consortium.

Thus, eight of the ten largest banks operating in Spain, three of the main telephone operators, three of the top four insurers in the country and two of the three large electricity and energy companies are among the companies that Kyndryl works with. .

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