Infosys yesterday announced a definitive agreement to acquire Kaleidoscope Innovation, bolstering capabilities in the design of smart products.
Kaleidoscope Innovation is a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets. 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.
The acquisition is expected to close during the second quarter of fiscal 2021, subject to customary closing conditions.
Kaleidoscope Innovation brings to Infosys a diverse talent pool with extensive knowledge of design and engineering. Kaleidoscope designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables. It also offers usability testing in support of regulatory submissions, including the delivery mechanism for aortic stents.
The announcement was made after market hours yesterday, 3 September 2020. Shares of Infosys rose 1.23% to settle at Rs 935.40 yesterday.
Infosys is a global leader in next-generation digital services and consulting.
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