IBM announces that it has renamed its newly created independent company out of its Managed Infrastructure Services business as Kyndryl, following the separation which is expected to conclude by the end of 2021.

"Kyndryl evokes the spirit of true partnership and growth," said Martin Schroeter, Chief Executive Officer of Kyndryl. "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."

The company has also announced that Kyndryl will be headquartered in New York City. "The decision to base our corporate team in one of the world's most vibrant and global urban centers underscores our commitment to the economic health of cities," Schroeter said.

According to the company, Kyndryl is a modern adaptation of two words that are central to the new company's identity and mission. ‘Kyn’ is derived from the word kinship, referencing the belief that relationships with people -- employees, customers and partners -- are at the center of the strategy, and that long-lasting relationships must be built and nurtured. The terminology ‘Dryl’ comes from tendril, bringing to mind new growth and the idea that -- together with customers and partners -- the business is always working toward advancing human progress.

"Creating a name is just the start of our journey as a brand," said Kyndryl's Chief Marketing Officer Maria Bartolome Winans. "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. Our vision is to be the leading company that designs, runs and modernizes the critical technology infrastructure of the world's most important businesses and institutions, ultimately powering human progress," she added.

As an independent company, Kyndryl is set to open alliances with a diverse ecosystem of technology partners. Kyndryl has a global base of 4,600 customers, including some of the world's most complex technology environments.