When IBM created an independent division for information technology infrastructure services that designs, builds, manages and develops large-scale information systems and divested it in November 2021 by distributing to IBMs stockholders new shares in the new business, now known as Kyndryl Holdings, Inc., the strategic action was termed:

a dysfunctional divestiture.

a satellite business.

a spin-off.

a wholly-owned subsidiary.

a functional divestiture.