Infosys has recently announced the acquisition of Kaleidoscope Innovation, a US-based firm, for $42 million. The deal is most likely to close in the Q2 of FY21. With this acquisition, Infosys will be able to expand and develop its engineering services portfolio. The company said this initiative is primarily aimed at the consumer, medical devices, and industrial markets spanning the United States.
Ravi Kumar, President at Infosys, said that the medical sector is expected to witness substantial investments and consumerization, even in the post-COVID period. As a result, it is hopeful for strengthening digital offerings with the intersection of new medical devices and software technologies.