India's second largest IT services firm Infosys on Thursday said it will acquire US-based product design and development firm Kaleidoscope Innovation for up to USD 42 million (about Rs 308 crore). Kaleidoscope Innovation is a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets. It 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. In a regulatory filing, Infosys said the cost of acquisition is "up to USD 42 million including earn-out, management incentives and bonuses".