THD NewsDesk, BENGALURU: Global Software major Infosys has reportedly bought US-based Kaleidoscope Communication for $42 mn. Kaleidoscope is a product design and engineering firm that works across medical, consumer and industrial markets of the United States.
This deal would be Infosys’ second acquisition since it bought Simplus, a salesforce consulting and advisory firm.
Matt Kornau, CEO & Co-Founder, Kaleidoscope Innovation is optimistic about the expanded offerings in AI, Analytics, and Digital Infrastructure that the deal will bring to its clients. “We feel Infosys shares these same values and will open new avenues for our client partners, and our staff, to pursue larger opportunities together,” said Matt.
Kaleidoscope specializes in designing microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables. It also offers the delivery mechanism for aortic stents.
“Our subsidiary Infosys Nova Holdings has signed an agreement to acquire 100 per cent equity capital of Kaleidoscope for $42 million,” said the city-based $13-billion IT major in a statement from Ohio’s Cincinnati.
Infosys has claimed that the acquisition of Kaleidoscope Communication would help strengthen the firm’s health-tech vertical, considering the spike in investments in the healthcare sector. Infosys is looking forward to this merger with Kaleidoscope, promising to contribute its expertise in the digital world to “revolutionise diagnostics and treatment, patient care and consumer health” across the world. The IT company has expressed its devotion to making the lives of its clients more and more convenient with every innovation.
Infosys is not the only company eyeing profits in the health and wellness division in the light of COVID-19 pandemic. Many major companies are consciously taking mid-sized companies, innovating in the field of medical care facilities in their fold.
“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,” said Ravi Kumar, President, Infosys.
SOURCE: The New Indian Express