Infosys to acquire US-based firm Kaleidoscope Innovation for $42 million

Will pick up 100% stake in a deal that is expected to close during the second quarter of fiscal 2021

IT services firm Infosys is set to acquire Kaleidoscope Innovation, a product design and development firm that operates in medical, consumer and industrial markets. 

Infosys will pay $42 million for acquiring 100 per cent stake in the Cincinnati-headquartered company and the amount includes earn-out, management incentives and bonuses, according to the exchange filing. The acquisition is expected to close during the second quarter of fiscal 2021, subject to customary closing conditions.

The Bengaluru-based firm said the acquisition demonstrates the company's commitment to innovate for its clients, and make a meaningful impact on human lives by combining cutting-edge technologies and experiences to revolutionise