PR85413

BENGALURU, India and CINCINNATI, Sept. 3, 2020/PRNewswire=KYODO JBN/ --

- 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