Infosys Ltd. (NYSE: INFY) announced a deal to acquire a 100% stake in Kaleidoscope Innovation Inc. from its founders for up to $42 million, including earnout, management incentives and bonuses.

Kaleidoscope Innovation, based in Cincinnati, offers product design and development, with its services focused primarily on medical devices. The company also offers staffing. It had revenue of $20.6 million in 2019.

“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,” Infosys President Ravi Kumar said.

Among its services, Kaleidoscope designs microsurgical instruments that are used in minimally invasive surgery, drug delivery devices for ophthalmic therapies and wearable devices.