- Expands engineering services portfolio by strengthening presence in Medical 
devices, Consumer and Industrial markets across US


    Infosys (https://www.infosys.com/) (NYSE: INFY), a global leader in 
next-generation digital services and consulting, today announced a definitive 
agreement to acquire 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 acquisition demonstrates Infosys' commitment to innovate for its clients, 
and make a meaningful impact on human lives by combining cutting-edge 
technologies and experiences to revolutionize patient care, treatment, 
diagnostics and consumer health across the world. 

    Kaleidoscope Innovation brings to Infosys a diverse talent pool with 
extensive knowledge of design and engineering. The company 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 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. 

    Ravi Kumar, President, Infosys, said, "This acquisition further strengthens 
our digital offerings at the intersection of new software technologies and 
medical devices - a sector that is expected to witness significant investments 
and consumerization in the post-COVID era. Our clients will benefit from the 
combination of Kaleidoscope's strong upstream offerings of product innovation 
and design, and Infosys' stack of product engineering, validation and 
commercialisation services at a global scale. We are excited to welcome 
Kaleidoscope Innovation and its leadership team into the Infosys family, as 
part of Infosys Engineering Services portfolio."

    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."

    Bill Taylor, Co-Founder, Kaleidoscope Innovation added, "Infosys provides 
an exciting platform for us to extend our relationship with our Business 
Partners to address the productization of solutions they have been asking us to 
deliver. Having the technical prowess and bandwidth to offer solutions that 
address manufacturability and lifecycle management will benefit all parties. We 
can now offer them the scale needed for both front end innovation and back end 
implementation and sustainability"
The acquisition is expected to close during the second quarter of fiscal 2021, 
subject to customary closing conditions.

    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