M&A Deal Summary

Kyndryl Acquires Skytap

On May 13, 2024, Kyndryl acquired information technology company Skytap

Acquisition Highlights
  • This is Kyndryl’s 1st transaction in the Information Technology sector.
  • This is Kyndryl’s 1st transaction in the United States.
  • This is Kyndryl’s 1st transaction in Washington.

M&A Deal Summary
Date 2024-05-13
Target Skytap
Sector Information Technology
Buyer(s) Kyndryl
Deal Type Add-on Acquisition

Target

Skytap

Seattle, Washington, United States
Skytap is a specialized workload services provider that accelerates enterprise innovation by modernizing traditional applications with cloud-native development and services. Skytap Cloud makes building, running, and evolving these hybrid applications easy by rapidly migrating traditional workloads to the cloud, enabling modern development practices, and integrating new cloud architectures. The company's power multi- and hybrid-cloud strategies through secure connections to other clouds and on-premises data centers. Its technology accelerates application development, simplifies management, and reduces IT costs, enabling hundreds of customers worldwide to modernize at the pace of their business. Learn how Skytap can help you modernize core enterprise applications using the best approach – and pace – for your business at www.skytap.com.

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Buyer(S) 1

Buyer

Kyndryl

New York, New York, United States
Category Company
Founded 2020
Sector Information Technology
Employees80,000
Revenue 16.1B USD (2023)
DESCRIPTION

Kyndryl is an IT infrastructure provider. The company designs, builds, manages, and modernizes the complex, mission-critical information systems that the world depends on every day. Kyndryl's employees serve over 4,000 customers in more than 60 countries around the world, including 75 percent of the Fortune 100. Kyndryl was founded in 2020 and is headquartered in New York City.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 Kyndryl - Securities Industry Services

United States

Kyndryl - Securities Industry Services provides solutions that include clearing and settlement, account record keeping, tax and regulatory reporting, and integrated order management activities for Canadian financial services firms.

Sell -
Mergr

Product

Company

Legal