Software major, Infosys on Thursday announced that it had acquired US-based product design firm, Kaleidoscope Innovation for about $42 million (around Rs 309 crore) for expanding its engineering service offerings, especially in medical devices, consumer and industrial markets across the US, the company said in a statement.

The acquisition of Kaleidoscope Innovation is the company’s second acquisition in the year and is expected to close in Q2 FY21 after the regulatory approvals. Earlier, Infosys had acquired a Salesforce partner, Simplus for about $250 million in February. “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 consumerisation in the post-COVID era,” said Ravi Kumar, President of Infosys.

Kaleidoscope Innovation designs microsurgical instruments, devices which are used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and user-centric wearables. The company also offers usability testing in support of regulatory submissions, including the delivery mechanism for aortic stents.

Matt Kornau, CEO and Co-Founder of Kaleidoscope Innovation, said that becoming a part of Infosys will help us to allow scale quickly and to bring expanded offerings in AI, analytics, and digital infrastructure to its clients.

Recently, Thierry Delaporte, CEO of Wipro has also made two acquisitions within weeks, which includes Brazil-based, IVIA Servicos de Informatica and a Belgium-based Salesforce partner, 4C for about $79 million.