Kyndryl was created through the spin-off of IBM’s infrastructure services business, which was the core of IBM Global Technology Services. By the end of 2020, this business served a portfolio of nearly 4,400 customers, including 75 percent of the top 100 Fortune 100 companies.

On November 4, 2021, Kyndryl completed its separation from IBM and began trading as an independent company on the New York Stock Exchange under the ticker “KD.”

Professor Jacquet looks at the evolution of this scenario, which seems likely to benefit IBM investors more than Kyndryl stockholders.