Infosys buys US product design firm Kaleidoscope Innovation for $42 million

Global software major Infosys on Thursday announced it has acquired US-based product design firm Kaleidoscope Innovation for $42 million (Rs 309 crore) to expand its engineering service offerings in medical devices, consumer and industrial markets across America.

“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 in the US midwest.

The deal is expected to be completed by the month-end after regulatory approvals.

The Ohio-based firm provides design and development across medical, consumer and industrial markets for making smart products.