Six months after saying goodbye to its managed infrastructure services business, IBM says it has landed on a name for the spin-off that will consume it: Kyndryl.
The new business will be headquartered in New York City, according to an April 12 news release, and it’s slated to become the world-leading managed infrastructure services provider with more than 4,600 accounts and a presence in 115 countries.
The new chief executive officer of Kyndryl, Martin Schroeter, says the name Kyndryl evokes the concept of partnerships and growth.
“Customers around the world will come to know Kyndryl as a brand that runs the vital systems at the heart of progress and an independent company with the best global talent in the industry,” he said in the news release.
IBM says “Kyn” is derived from the word kinship, referencing its belief that relationships with people are crucial to success.
“Dryl” comes from tendril, “bringing to mind new growth and the idea that the business is always working toward advancing human progress with the help of partners,” the company explained.
In a previous interview with IT World Canada, Xerxes Cooper, general manager of global technology services, said the split is meant to help IBM focus on its software and solutions portfolio. IBM CEO Arvind Krishna has previously stated that more than 60 per cent of IBM’s revenue comes from its services business.
“It’s going to lead to a deeper focus,” Cooper said. “By no means is Big Blue going to become Tiny Blue.”