Company Of The Day: IBM

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IBM: International Business Machines logo
IBM
International Business Machines

What?

IBM (NYSE:IBM) disclosed additional details on the planned spinoff of its IT infrastructure business into a new public company called Kyndryl.

IBM says that Kyndryl posted revenue of about $19.4 billion in 2020, down from $21.8 billion in 2018. IBM is likely to execute the separation by the end of 2021 and intends to distribute about 80.1% of Kyndryl’s common stock to its shareholders and retain up to a 19.9% stake.

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So What?

The transaction would allow IBM to focus on areas such as artificial intelligence and cloud services while potentially unlocking some value for IBM shareholders.

See Our Complete Analysis For IBM

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