Kyndryl and Nova Intelligence Announce Strategic Collaboration to Accelerate SAP Transformation for Customers
Rhea-AI Summary
Kyndryl (NYSE:KD) has announced a strategic collaboration with Nova Intelligence to enhance SAP digital transformation services. The partnership combines Kyndryl's SAP modernization expertise with Nova Intelligence's AI agents to accelerate customer migration to SAP Cloud ERP and deliver cost-effective solutions.
The collaboration focuses on transforming legacy custom code into modernized applications compliant with SAP Clean Core principles. Kyndryl has already demonstrated success by using Nova Intelligence AI agents to modernize two of its own mission-critical SAP applications, resulting in reduced development work and transformation costs. This partnership builds upon Kyndryl's position as a RISE with SAP delivery partner since July 2024.
Positive
- Strategic partnership enhances Kyndryl's SAP modernization capabilities
- AI integration promises faster and more cost-effective SAP transformations
- Proven success with internal implementation reducing manual development work
Negative
- None.
News Market Reaction
On the day this news was published, KD gained 2.56%, reflecting a moderate positive market reaction. Argus tracked a trough of -10.7% from its starting point during tracking. Our momentum scanner triggered 67 alerts that day, indicating high trading interest and price volatility. This price movement added approximately $212M to the company's valuation, bringing the market cap to $8.49B at that time. Trading volume was exceptionally heavy at 9.2x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Kyndryl will align its SAP Services with Nova Intelligence AI agents to speed customer migration to SAP Cloud ERP and deliver cost savings
Under the partnership, Kyndryl will couple its SAP modernization and data transformation services with Nova Intelligence's agentic AI solutions to support enterprise customers with their SAP Cloud ERP (previously SAP S/4HANA) transformations—including migrating to SAP Cloud ERP and modernizing existing SAP Cloud ERP systems to align with SAP Clean Core principles—more quickly and cost-effectively.
Kyndryl and Nova Intelligence's collaboration will further support customers on their SAP Clean Core journey by transforming legacy custom code into modernized and compliant applications. Kyndryl will also leverage Nova Intelligence's agentic AI capabilities to document and analyze custom code and to discover, build and test modernized, Clean Core compliant, end-to-end solutions.
"Kyndryl's collaboration with Nova Intelligence deepens and expands our SAP modernization services to continue meeting customers at every stage of their digital transformation journey," said Michael Bradshaw, Kyndryl's Global Applications, Data and AI Practice Leader. "By leveraging the Nova Intelligence AI agents, Kyndryl is expanding its ability to quickly and efficiently guide customers in migrating to SAP Cloud ERP, while also positioning them to harness future iterations of SAP to support their business goals."
"Kyndryl's comprehensive SAP expertise, end-to-end services and first-hand experience in applying Nova Intelligence to its own SAP applications positions them as an ideal technology services partner to bring our technology to customers," said Emma Qian, Nova Intelligence's Chief Executive Officer. "Through our partnership, we'll support more customers in accelerating their Clean Core journey in a cost-effective manner."
The Nova Intelligence AI agents can significantly accelerate the documentation, simplification, generation and unit testing of custom code. Combined with Kyndryl's SAP modernization services, the technology supports customers in achieving Clean Core compliance, reducing risk and preparing for current and future SAP capabilities while continuing to maintain business continuity.
In support of its own digital transformation, Kyndryl leveraged Nova Intelligence AI agents to modernize two of its mission-critical legacy SAP custom applications, which significantly reduced manual development work and transformation costs.
Since being announced as a RISE with SAP delivery partner in July 2024, Kyndryl has applied its comprehensive SAP services to provide customers with end-to-end support on their SAP Cloud ERP transformation journeys. Kyndryl's collaboration with Nova Intelligence, along with its Data Transformation Suite, enables the Company to provide deeper guidance and support to customers on their SAP journeys.
Learn more information on Kyndryl's SAP transformation services.
About Kyndryl
Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services, offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.
About Nova Intelligence
Nova Intelligence is the world's first provider of a multi-agent platform for SAP transformations. The company is founded and led by an AI researcher from Google DeepMind, a successful Silicon Valley entrepreneur, and the co-inventor of SAP HANA. Collectively, the team has previously led >150 S/4HANA transformations and >500 HANA projects, and has authored 10+ SAP books and >200 technical publications. Nova Intelligence is backed by SAP.io, SAP's investment arm, and top Silicon Valley investment firms Accel and Conviction. For more information, visit www.novaintelligence.com.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in
Forward-looking statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements often contain words such as "aim," "anticipate," "believe," "contemplate," "could," "estimate," "expect," "forecast," "intend," "may," "objectives," "opportunity," "plan," "position," "predict," "project," "should," "seek," "target," "will," "would" and other similar words or expressions or the negative thereof or other variations thereon. All statements other than statements of historical fact, including without limitation statements concerning the Kyndryl's plans, objectives, goals, beliefs, business strategies, future events, business condition, results of operations, financial position, business outlook and business trends and other non-historical statements, are forward-looking statements. These statements do not guarantee future performance and speak only as of the date of this press release. Except as required by law, Kyndryl assumes no obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual outcomes or results may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties including those described in the "Risk Factors" section of Kyndryl's most recent Annual Report on Form 10-K, and may be further updated from time to time in Kyndryl's subsequent filings with the Securities and Exchange Commission.
Kyndryl press contact
press@kyndryl.com
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SOURCE Kyndryl
FAQ
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