Infosys has now acquired the entire stake in the product design and development firm Kaleidoscope Innovation for $42 million in an all-cash deal.
The deal, which includes the management bonuses, and incentives, is expected to close at the time of the second quarter of the current financial year.
Kaleidoscope Innovation is founded by Matt Kornau in the year 1995. It provides product development services to solve business challenges. It also helps the customers with user interface design, insights, and research as well as development and visualization.
Nitesh Bansal, SVP & Global Head of Engineering, Infosys, said, “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.”
Matt Kornau, CEO & Co-Founder, Kaleidoscope Innovation said, “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.”
Kaleidoscope Innovation acquisition
According to the announcement of Infosys, Kaleidoscope brings a diverse talent pool with extensive knowledge of engineering and design apart from a deep understanding of clinical environments, and strong product development capabilities across the different domains.
The US firm also serves a diversified customer base with in-house design labs, customer experience centers, and 3D design environments.
Kaleidoscope designs microsurgical instruments, devices used in invasive surgery, user-centric wearables and drug delivery devices for ophthalmic.
It also offers usability testing in support of regulatory submissions, which includes the delivery mechanism for aortic stents.