Kyndryl, a leading IT infrastructure services provider, has acquired privately held Skytap, a specialized workload services provider.
Kyndryl’s acquisition of Skytap will expand the company’s hybrid cloud services portfolio. Skytap’s technologies will be combined with Kyndryl’s expertise in helping customers utilize cloud native services to accelerate the adoption of advanced analytics, artificial intelligence and development, security and operations (DevSecOps).
Kyndryl also announced that it will divest its transaction processing platform for the securities brokerage industry in Canada, known as Securities Industry Services (SIS), to Broadridge Financial Solutions. Kyndryl intends to provide managed services and capabilities to Broadridge related to SIS following the divestiture.
Revenues generated by both Skytap and SIS over the last twelve months were less than 1 percent of Kyndryl’s annual revenue.
