Everything is cloudy, Kyndryl (NYSEL KD) to acquire cloud services provider Solvinity

Kyndryl Holdings Inc. (NYSEL KD) announced it has entered into an agreement to acquire Solvinity Group B.V., a privately held provider of secure managed cloud platforms and services based in the Netherlands.

The transaction will expand Kyndryl’s portfolio of cloud services and security capabilities for customers with sensitive workloads and compliance requirements. Solvinity offers private and hybrid sovereign cloud services that will be combined with Kyndryl’s advisory, implementation and managed services.

“Kyndryl’s acquisition of Solvinity will enable us to offer customers expanded services in modernizing, innovating and securing sensitive and complex workloads,” said Petra Goude, President of Kyndryl Strategic Markets.

The acquisition aims to help customers manage workloads with stringent security requirements while navigating data sovereignty regulations. The combined offerings will include enhanced security capabilities, cloud platform services and AI enablement supported by certified technical experts.

Financial terms of the transaction were not disclosed. The deal is subject to customary closing conditions including regulatory approval and required consultation with employee representatives.

Kyndryl describes itself as a provider of mission-critical enterprise technology services, serving customers in more than 60 countries. The company was spun off from IBM in 2021 and focuses on IT infrastructure services.