On September 3, Infosys Ltd declared that it has entered a definitive agreement for acquiring the United States-based product design and development firm Kaleidoscope Innovation with a total of $42 million. In the second quarter of fiscal 2021, the acquisition is expected to close and also predicted to strengthen Infosys’ presence in the medical devices, consumer and industrial markets in the United States.

A statement released by the company says, “This acquisition demonstrates Infosys’ commitment to innovate for its clients, and make a meaningful impact on human lives by combining cutting-edge technologies and experiences to revolutionize patient care, treatment, diagnostics and consumer health across the world.” With the acquisition of Kaleidoscope Innovation, it is expected that Infosys will get a variety in talent pool inclusive of extensive knowledge of design and engineering.

Infosys stated that it is leveraging a deep understanding of clinical environments, strong product development capacities in the domains, and a consultancy-style approach to address human factors, product design, UI/UX design, research and insight, development and visualization.

Ravi Kumar, The President, Infosys, said, “This acquisition further strengthens our digital offerings at the intersection of new software technologies and medical devices, a sector that is expected to witness significant investments and consumerization in the post-COVID era."