- Next-generational digital services and consulting company Infosys (NYSE: INFY) recently announced a definitive agreement to acquire Kaleidoscope Innovation. These are the details.
Next-generational digital services and consulting company Infosys (NYSE: INFY) recently announced a definitive agreement to acquire Kaleidoscope Innovation — which is a full-spectrum product design, development, and insights firm innovating across medical, consumer, and industrial markets. The deal is valued at up to $42 million, including earnout, incentives, and bonuses.
Kaleidoscope Innovation will bring to Infosys a diverse talent pool with extensive knowledge of design and engineering. And the company utilizes a deep understanding of clinical environments, strong product development capabilities across domains, and a consultancy-style approach addressing human factors, product design, UI/UX design, research and insight, development, and visualization.
And Kaleidoscope also serves a marquee and diversified customer base with state of the art, in-house labs, 3D design environments, and customer experience centers. Kaleidoscope designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies, and user-centric wearables. Plus it also offers usability testing in support of regulatory submissions, including the delivery mechanism for aortic stents.
This acquisition is expected to close during the second quarter of fiscal 2021, subject to customary closing conditions.
KEY QUOTES:
“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. Our clients will benefit from the combination of Kaleidoscope’s strong upstream offerings of product innovation and design, and Infosys’ stack of product engineering, validation and commercialisation services at a global scale. We are excited to welcome Kaleidoscope Innovation and its leadership team into the Infosys family, as part of Infosys Engineering Services portfolio.”
— Ravi Kumar, President, Infosys
“Device engineering for both the consumer and medical industries has been a critical success parameter for our clients. The addition of upstream concept design and human factors engineering, through this acquisition not only provides us end-to-end capability, but also creates an engagement engine dedicated towards innovation and growth in this sector.”
— Nitesh Bansal, SVP & Global Head of Engineering, Infosys
“We are enthusiastic about our exciting new partnership with Infosys. It allows us to scale quickly and bring expanded offerings in AI, Analytics, and Digital Infrastructure to our clients. Kaleidoscope has always valued the ability to enhance people’s lives and their outcomes through innovation. We feel Infosys shares these same values and will open new avenues for our client partners, and our staff, to pursue larger opportunities together. We will remain dedicated to serving as good partners to other companies, large and small, as we continue to meet our mission.”
— Matt Kornau, CEO & Co-Founder, Kaleidoscope Innovation
“Infosys provides an exciting platform for us to extend our relationship with our Business Partners to address the productization of solutions they have been asking us to deliver. Having the technical prowess and bandwidth to offer solutions that address manufacturability and lifecycle management will benefit all parties. We can now offer them the scale needed for both front end innovation and back end implementation and sustainability.”
— Bill Taylor, Co-Founder at Kaleidoscope Innovation
