An independent company that will be formed once IBM (NYSE: IBM) spins off its managed infrastructure services business by the end of 2021 will operate under the name Kyndryl and will be based in New York City.
“Kyndryl evokes the spirit of true partnership and growth,” Kyndryl CEO Martin Schroeter said in a statement published Monday.
In January, Schroeter was named CEO to oversee the new company that will focus on delivering information technology infrastructure modernization and management support to its global base of 4,600 clients.
The “kyn” in Kyndyl comes from the word “kinship” to reflect the importance of building and nurturing relationships with employees, partners and customers in the company’s strategy. “Dryl” is derived from the word “tendril,” which means new growth and the company’s effort to drive human progress in collaboration with partners and clients.
“Creating a name is just the start of our journey as a brand,” said Maria Bartolome Winans, chief marketing officer of Kyndril. “It will help identify us and support recognition, but the meaning of the name will be built and enhanced over time from our behaviors, aspirations and actions, and what we enable our customers to do.”
In October, IBM announced that it will split into two public companies by spinning off the managed infrastructure services unit as part of its efforts to focus on hybrid cloud and artificial intelligence capabilities. The spunoff company will offer infrastructure modernization support, services management, network services, hosting and multicloud management support to clients.