Kyndryl Provides Canadian Enterprises with a Fast, Secure Path to Move and Modernize Mission-critical Legacy Systems on Microsoft Azure

Kyndryl (NYSE: KD) announced on March 11, 2026 that Kyndryl Cloud Uplift (formerly Skytap) is now available in Microsoft Canadian datacentre regions.

Rhea-AI Summary

Kyndryl (NYSE: KD) announced on March 11, 2026 that Kyndryl Cloud Uplift (formerly Skytap) is now available in Microsoft Canadian datacentre regions. The service enables as‑is migration of IBM Power workloads (AIX, IBM i, Linux) to Azure while keeping data in Canada. Canada is the fifth geographic region added since the May 2024 acquisition and the fourteenth Microsoft datacentre region overall. The release cites Kyndryl Readiness Report findings: 67% of leaders see innovation delayed by foundational tech issues, 81% worry about geopolitical data risks, and 60% are changing cloud strategies in response.

Positive

• Availability of Kyndryl Cloud Uplift in Microsoft Canadian datacentre regions
• Supports as‑is migration of IBM Power (AIX, IBM i, Linux) to Azure without re-architecting
• Local data residency in Canada while enabling modernization and AI adoption

Negative

• None.

Argus Mar 11 session

-0.31% close to close Open Argus

Details

News Market Reaction – KD

In the Mar 11 session, KD declined 0.31%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement extends Kyndryl Cloud Uplift to Microsoft Canadian datacentre regions, letting ent...

Analysis

This announcement extends Kyndryl Cloud Uplift to Microsoft Canadian datacentre regions, letting enterprises run IBM Power workloads on Azure while keeping data in Canada. It reinforces ongoing themes around data sovereignty, modernization speed and AI readiness cited in recent Kyndryl reports. Investors may track adoption of this service, especially in regulated sectors, alongside financial metrics like quarterly revenue of $3.9 billion and adjusted EBITDA of $1.98 billion.

Key Figures

Leaders delayed by tech issues: 67% Concerned about geopolitical risks: 81% Changing cloud strategies: 60% +5 more

Leaders delayed by tech issues

67%

Kyndryl Readiness Report on innovation delays

Concerned about geopolitical risks

81%

Kyndryl Readiness Report on data in global clouds

Changing cloud strategies

60%

Leaders adjusting strategies due to geopolitical risk

Quarterly revenue

$3.9 billion

Quarter ended Dec 31, 2025; up 3% year over year

Quarterly net income

$57 million

Quarter ended Dec 31, 2025; down from $215 million

Nine‑month revenue

$11.3 billion

First nine months of fiscal year; up 1%

Adjusted EBITDA

$1.98 billion

First nine months; up from $1.82 billion

Cash and total debt

$1.35B cash; $3.12B debt

Balance sheet at quarter end Dec 31, 2025

Historical Context

5 past events · Latest: Mar 10

5 events

1. Mar 10

   Security readiness report

   24h Move

   -2.9%

   Reported readiness gaps in quantum, data sovereignty and aging networks.

2. Mar 05

   AI healthcare report

   24h Move

   +2.8%

   Highlighted AI adoption gaps and launched new policy-as-code capability.

3. Mar 03

   Sustainability recognition

   24h Move

   +0.2%

   Named a Leader in ISG Digital Sustainability report for IT services.

4. Feb 27

   Class action notice

   24h Move

   +4.1%

   Notice of application deadline for securities class action lawsuit.

5. Feb 26

   Conference appearance

   24h Move

   +1.7%

   Announcement of presentation at Morgan Stanley TMT Conference.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ibm power, microsoft azure, restricted stock units, schedule 13g/a, +3 more

7 terms

ibm power technical

"replicate and run IBM Power (AIX, IBM i, Linux) on Microsoft Azure"

IBM Power is a family of high-performance processors and the server systems that use them, built to run heavy business workloads like large databases, analytics and transaction processing. Like the heavy-duty engine in a truck, Power systems support mission‑critical computing for enterprises and cloud providers, so product upgrades, sales trends or technology changes can influence a company’s revenue, margins and competitive position in enterprise IT markets.

microsoft azure technical

"modernize mission-critical legacy applications on Microsoft Azure while keeping data in Canada"

A cloud computing platform that rents out computing power, storage and ready-made software tools over the internet so businesses can run apps and store data without buying their own servers—think of it as renting virtual office space and equipment instead of owning a building. Investors watch it because it generates steady, often recurring revenue, signals demand for digital services, and can drive a company’s growth and profitability.

restricted stock units financial

"received a grant of 19,921 restricted stock units of common stock on March 2, 2026"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

schedule 13g/a regulatory

"The schedule is an amendment (Amendment No. 4) to a Schedule 13G/A."

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

form 4 regulatory

"title: "[Form 4] Kyndryl Holdings, Inc. Insider Trading Activity""

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

View in glossary

form 3 regulatory

"title: "[Form 3] Kyndryl Holdings, Inc. Initial Statement of Beneficial Ownership""

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

revolving credit facility financial

"it drew $1 billion on its revolving credit facility and agreed to acquire Solvinity"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Kyndryl Cloud Uplift, now available in Microsoft Canadian datacentre regions, allows organizations to migrate as-is workloads, while maintaining performance and keeping data in country

TORONTO, March 11, 2026 /PRNewswire/ -- Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, today announced the availability of Kyndryl Cloud Uplift, formerly Skytap, in Microsoft Canadian datacentre regions. This expansion provides Canadian enterprises a fast, low-risk, self-serve way to move and modernize mission-critical legacy applications on Microsoft Azure while keeping data in Canada.

"Together with Kyndryl, we're enabling Canadian organizations to move and modernize mission-critical systems in Microsoft Canadian datacentre regions with confidence," said Matt Milton, President, Microsoft Canada. "With the ability to migrate as-is workloads, organizations can move faster and start realizing value sooner."

"Canadian enterprises need an approach that speeds up the modernization of their mission‑critical workloads while preparing them for what's next," said Brian Medeiros, President, Kyndryl Canada. "Kyndryl Cloud Uplift provides a low-risk, accelerated path to Microsoft Azure, giving customers the foundation to modernize, scale operations and access to AI innovation."

While cloud has become a key driver of business agility, Canadian leaders face operational and regulatory complexity as they try to modernize without disrupting critical systems. According to the Kyndryl Readiness Report, 67% of leaders say innovation is delayed by foundational technology issues, and 81% are increasingly concerned about the geopolitical risks of storing and managing data in global cloud environments, with 60% changing cloud strategies in response.

Kyndryl Cloud Uplift addresses these realities by enabling enterprises to replicate and run IBM Power (AIX, IBM i, Linux) on Microsoft Azure without re-architecting or rewriting applications so they can reduce migration risk while maintaining performance and day‑to‑day operations. And because Kyndryl Cloud Uplift is available in Microsoft Canadian datacentre regions, organizations can keep data within Canada as they modernize and adopt modern cloud services and AI at their own pace.

Canada is the fifth geographic region to offer Kyndryl Cloud Uplift following the acquisition of Skytap in May 2024, reinforcing Kyndryl's commitment to delivering locally compliant solutions with global deployment options to customers. Canada marks the fourteenth Microsoft datacentre region where Kyndryl Cloud Uplift is available.

Learn more about Kyndryl's hybrid cloud services portfolio.

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. 

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," "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 Company'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, the Company assumes no obligation 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 the Company's most recent Annual Report on Form 10-K and quarterly report on Form 10-Q for the quarter ended December 31, 2025, and may be further updated from time to time in the Company's subsequent filings with the Securities and Exchange Commission. 

Kyndryl press contact
press@kyndryl.com

 

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SOURCE Kyndryl

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Kyndryl's March 11, 2026 announcement mean for Canadian enterprises (KD)?

It means Canadian companies can migrate mission‑critical workloads to Azure while keeping data in Canada. According to Kyndryl, this enables as‑is replication of IBM Power workloads to Microsoft Canadian datacentre regions, reducing migration risk and preserving performance during modernization.

Which workloads does Kyndryl Cloud Uplift support on Microsoft Azure for KD customers?

Kyndryl Cloud Uplift supports IBM Power workloads including AIX, IBM i, and Linux on Azure. According to Kyndryl, organizations can replicate and run these workloads without rewriting applications, enabling quicker, lower‑risk moves to Azure with data residency in Canada.

How widespread is Kyndryl Cloud Uplift after the March 11, 2026 expansion?

Canada is the fifth geographic region and the fourteenth Microsoft datacentre region to offer the service. According to Kyndryl, this expansion follows the May 2024 acquisition of Skytap and extends locally compliant deployment options for customers.

Does Kyndryl Cloud Uplift address data residency and regulatory concerns for Canadian customers (KD)?

Yes—Kyndryl Cloud Uplift is available in Microsoft Canadian datacentre regions so data can remain in Canada. According to Kyndryl, this helps organizations meet operational and regulatory requirements while modernizing mission‑critical systems at their own pace.

What customer pain points does the Kyndryl Readiness Report highlight related to cloud modernization (KD)?

The report highlights delays and geopolitical concerns slowing modernization efforts. According to Kyndryl, 67% say innovation is delayed by foundational tech issues, 81% worry about global data risks, and 60% are changing cloud strategies in response.