Infosys on Thursday said that it has entered into a definitive agreement to acquire Kaleidoscope Innovation, a full-spectrum product design, development and insights firm. The size of the all-cash consideration is learnt to be up to $42 million.

A press statement from the company said 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 revolutionise patient care, treatment, diagnostics and consumer health across the world. Kaleidoscope Innovation brings to Infosys a diverse talent pool with extensive knowledge of design and engineering.

The company leverages 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 visualisation. Spark Capital acted as the exclusive financial advisors to Kaleidscope Innovation and its selling shareholders on the acquisition by Infosys Ltd.

Patient care post Covid

“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 consumerisation in the post-Covid era,” said Ravi Kumar, President, Infosys.

“The partnership with Infosys 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,” said Matt Kornau, CEO and co-founder, Kaleidoscope Innovation.

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