New Delhi: Infosys has bought America's Kaleidoscope Innovation for $ 4.2 million. Kaleidoscope Innovation is a product design and development company. The acquisition will help Infosys expand its engineering services portfolio. The entire process of this acquisition is expected to be completed in the second half of FY 2021.

This is the second acquisition made by the company this year. Earlier in February, the company bought Simplus for $ 250 million. Simplus is a Salesforce partner. In the information provided to Exchanges, Infosys has stated that Kaleidoscope is an innovator in the medical, consumer and industrial market categories. The company works to deliver medicines during eye operation, to be used in minimally rip-off surgeries, and to design micro-surgery equipment. It also manufactures wearable technical equipment keeping in mind its customers.

Infosys will acquire it through its wholly-owned subsidiary, Infosys nova holdings. The deal is expected to be completed in the second quarter of FY 2020-21. A kaleidoscope of Ohio earned $ 2.06 million in the fiscal year ended 31 December 2019. Speaking on the occasion, Infosys Chairman Ravi Kumar said "The deal would empower the company's new software technology and expansion of digital portfolio in the medical device sector. Large investment in this area is expected post-Corona period".

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