India’s second largest IT services firm Infosys announced that it would acquire product design and development firm, Kaleidoscope Innovation for up to $42 million.
Founded in 1989, Kaleidoscope Innovation is a full-service, insights, design and development firm. Offering both consultancy-style and onsite services, Kaleidoscope Innovation flexes to best help their business partners solve their challenges. They provide a full breadth of disciplines to meet their partners where needed, including: Insights & Human Factors, Industrial Design & User Experience, Engineering, Visualization and Software Development.
Ohio-based Kaleidoscope had clocked revenue of $20.6 million in the fiscal year ending December 31, 2019.
Ravi Kumar, 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. 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 commercialization services at a global scale, Kaleidoscope 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 visualization.”
Matt Kornau, CEO and Co-Founder, Kaleidoscope Innovation said, “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.”
With this acquisition, the company aims to expand its engineering services portfolio and strengthen presence in medical devices, consumer and industrial markets across the US.
Kaleidoscope brings to Infosys a diverse talent pool with extensive knowledge of design and engineering, said the Indian IT services major in a press release.