‘Kyndryl starts in India with twice the market share of closest rival’

Mumbai | Bengaluru: Kyndryl, a spinoff of IBM Corp.’s managed infrastructure business, sees itself on a strong footing in India with double the market share compared to its closest rival in the country, a top executive has said.

The New York-based company, which lists on the New York Stock Exchange Thursday, will begin its publicly traded life with $19 billion in annual revenue and an addressable market opportunity of $510 billion by 2024.

“We were a sizable part of IBM in India as global technology services, and we are starting with almost twice the market share of the next player (in India),” Kyndryl’s India President Lingraju Sawkar told ET. “Traditionally we were looking at the market from an IBM technology lens but now we see the opportunity to partner with application system integrators and startups.”