Kyndryl Plans to Acquire Finnish Financial IT Service Provider Samlink
November 18, 2021
November 18, 2021
New York, November 18, 2021 — Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today announced it has signed an agreement to purchase Oy Samlink Ab. The agreement expands Kyndryl’s financial services industry capabilities in the strategic markets of Finland and the Nordics where the company is helping major financial institutions drive their digital transformations.
The proposed acquisition is Kyndryl’s first since becoming an independent, publicly traded managed digital systems provider earlier this month. By becoming part of Kyndryl, Samlink will strengthen its long-term access to the most modern, robust, and scalable enterprise technology capabilities and expertise for an increasingly digital economy.
The company will bring banking application services, managing zCloud workloads and data management services to complement Kyndryl’s six global practice areas – Cloud, Core Enterprise and zCloud, Application, Data and AI, Digital Workplace, Security and Resiliency, and Network and Edge.
As the financial sector experiences a period of rapid digital transformation, financial institutions need the right skills and technology to enable architectural modernization. IT systems must meet changing regulatory requirements while ensuring security and business continuity, and they must fuel the innovation that’s needed to meet evolving customer demands.
“Kyndryl is a recognized leader in designing, building and managing complex and mission-critical IT systems with deep financial services industry expertise,” says Elly Keinan, Group President, Kyndryl. “This important investment further strengthens our capabilities in the Nordics, and advances the work we are doing to accelerate innovation with our financial services customers.”
As part of the new agreement, Kyndryl will become the sole owner of Samlink. Samlink will continue to operate in their own name and their operations will continue in both Espoo and Jyväskylä.
A final agreement is subject to obtaining the necessary authority approvals and regulatory proceedings. Terms of the transaction were not disclosed.
Kyndryl (NYSE “KD” @kyndryl) is the world’s largest IT infrastructure services provider. The company designs, builds, manages, and modernizes the complex, mission-critical information systems that the world depends on every day. Kyndryl’s nearly 90,000 employees serve over 4,000 customers in more than 60 countries around the world, including 75 percent of the Fortune 100. For more information, visit www.kyndryl.com
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