Infosys Completes Acquisition of Product Design and Development Firm, Kaleidoscope Innovation
Infosys (NYSE: INFY) has completed its acquisition of Kaleidoscope Innovation, enhancing its capabilities in smart product design across medical, consumer, and industrial markets. This acquisition, announced on September 3, 2020, aligns with Infosys' commitment to innovation and impacts patient care and diagnostics. Kaleidoscope's expertise includes microsurgical instruments and user-centric wearables, further strengthening Infosys' digital offerings and workforce.
- Acquisition of Kaleidoscope Innovation strengthens Infosys' product design and development capabilities.
- Enhances digital offerings in the medical and consumer sectors, potentially increasing revenue opportunities.
- Access to Kaleidoscope's diverse talent pool with expertise in design and engineering.
- Integration challenges may arise, impacting operational efficiency.
- Potential financial strain due to acquisition costs, affecting short-term profitability.
BENGALURU, India and CINCINNATI, Ohio, Oct. 12, 2020 /PRNewswire/ -- Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has completed the acquisition of Kaleidoscope Innovation, a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets, bolstering capabilities in the design of smart products. This follows the announcement the company made on September 03, 2020.
This acquisition demonstrates Infosys' commitment to innovate for its clients, and make meaningful impact on human lives through a combination of cutting-edge technologies. This collaboration further aims to revolutionize patient care, treatment, diagnostics and consumer health, across the world.
With Kaleidoscope Innovation, Infosys will further strengthen its digital offerings and also its workforce, with a diverse talent pool with extensive knowledge of design and engineering. 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 & insight, development and visualization. It serves a marquee and diversified customer base with state of the art, in-house labs, 3D design environments and customer experience centers.
Kaleidoscope Innovation designs microsurgical instruments, devices used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables. It also offers usability testing in support of regulatory submissions, including the delivery mechanism for aortic stents.
Infosys is excited to welcome Kaleidoscope Innovation and its leadership team.
About Kaleidoscope Innovation
Kaleidoscope Innovation is a full-service product development firm innovating across medical, consumer and industrial markets. For over 30 years, clients have partnered with Kaleidoscope to improve the human experience. Kaleidoscope offers both consultancy-style and onsite services, across a full breadth of disciplines to meet their client's needs where needed, including insights & human factors, medical affairs, industrial design & user experience, engineering, visualization and software development. For more information about Kaleidoscope Innovation, please visit www.kascope.com
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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SOURCE Infosys
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