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 IBM's stockholders new shares in the new business, now known as Kyndryl Holdings, Inc., the strategic action was termed

Multiple Choice

E$).$ a dysfunctional div$$estiture$.$

a satellite business.

a spin$-$off.

a wholly$-$owned subsidiary

a functional divestiture.