Financial Wire

Kyndryl Selected to Upgrade North Carolina DMV Systems

-- Kyndryl (KD) said Thursday it was selected by the North Carolina Division of Motor Vehicles to upgrade its core systems as part of a modernization effort.

The North Carolina Division of Motor Vehicles said in a separate statement that a $5 million Microsoft (MSFT) credit lowers the net cost of the $84.8 million contract to about $79.8 million, with payments tied to performance milestones and outcomes.

The project involves replacing legacy systems with a new platform hosted on Microsoft Azure to support faster processing, expanded online services and improved system reliability across the state, Kyndryl said.

Price: $13.78, Change: $-0.04, Percent Change: -0.29%

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