Aurora Technology Acquisition Corp. and DIH Technology Ltd. Announce Letter of Intent for a Business Combination - Yahoo Finance

1 year ago 46

DIH is simply a planetary person successful robotic and virtual reality-enabled rehabilitation technology

, /PRNewswire/ -- Aurora Technology Acquisition Corp. (NASDAQ: ATAK) ("ATAK"), a publicly-traded peculiar intent acquisition institution ("SPAC") and DIH Technology Ltd. ("DIH"), a starring planetary robotics and virtual world ("VR") exertion supplier successful the rehabilitation and quality show industry, contiguous announced the signing of a non-binding Letter of Intent ("LOI") for a imaginable concern combination.

Under the presumption of the LOI, ATAK and DIH would go a combined entity, with DIH's shareholders rolling 100% of their equity into the combined nationalist company. ATAK and DIH expect to denote further details regarding the concern operation erstwhile a definitive statement is executed, which is expected earlier January 31, 2023.

As a planetary person successful the improvement and selling of robotics for rehabilitation and virtual reality-based precocious question level for quality performance, DIH owns industry-leading brands similar HOCOMA and Motek, with much than 4,500 robots and precocious VR-based question systems installed successful 70 countries. DIH's main customers see precocious probe centers, innovative rehabilitation hospitals, and apical healthcare clinics.

"We are precise impressed by some the entrepreneurial tone driving ATAK's absorption squad arsenic good arsenic its divers and well-respected committee members and advisors. We judge the operation with ATAK volition facilitate our motorboat arsenic a nationalist institution with beardown firm governance, grow our superior marketplace expertise, and heighten our strategical concern capabilities, including M&A. These each are captious to DIH's maturation strategy arsenic a transformative and innovative full solution supplier and consolidator successful the highly fragmented rehabilitation exertion industry." said Jason Chen, CEO and Chairman of DIH's committee of directors.

Zachary Wang, CEO and Chairman of ATAK's committee of directors, commented, "DIH fits our acquisition people illustration good arsenic a multi-national astute exertion supplier successful the quality rehabilitation and show industry. Founded by Asian-American entrepreneurs with implicit 20 years of acquisition managing planetary healthcare operations, the institution has a beardown tenured absorption team. We spot DIH arsenic an breathtaking accidental for growth, with its proprietary technology, scalable concern model, and experienced enactment squad positioning it to grow its planetary marketplace stock and proceed to thrust innovations that pb the manufacture successful benefiting patients. We judge that the merger and entree to nationalist markets volition alteration the institution to proceed to standard its planetary level and present connected its maturation potential."

About Aurora Technology Acquisition Corp. (NASDAQ: ATAK)

Aurora Technology Acquisition Corp. is simply a Cayman Islands-exempted , San Francisco-based, peculiar intent acquisition corporation. ATAK's securities are listed connected NASDAQ, with $202M currency successful spot raised done its IPO. As a blank cheque company, ATAK was formed with the intent of entering into a merger with a high-growth exertion company, which preferably is founded by Asian oregon Asian-American entrepreneurs who are gathering a planetary endeavor supported by forward-thinking visions and innovative frontier technologies. ATAK seeks to place compelling opportunities wherever an alignment of its operating expertise, investing experience, and a planetary web tin accelerate the maturation of the institution for multi-national expansion.

ATAK web-site: https://www.auroraspac.com/

Contact:
Zachary Wang
CEO & Chairman of the Board
zachary@auroraspac.com

About DIH Technology, Ltd.

DIH stands for the imaginativeness to "Deliver Inspiration & Health" to amended the functioning of millions of radical with disablement and functional impairments. DIH is simply a planetary solution supplier successful blending innovative robotic and VR technologies with objective integration and insights. Built done the mergers of global-leading niche technologies providers similar HOCOMA- a Switzerland-based planetary person successful robotics for rehab, and MOTEK- a Netherlands-based planetary person successful blase VR-enabled question level powered by real-time integration, DIH is positioning itself arsenic a transformative full astute solutions supplier and consolidator successful a mostly fragmented and manual-labor-driven industry.

DIH website: https://www.dih.com/

Contact:
Jason Chen
CEO & Chairman of the Board
jason.chen@DIH.com