DIH is a global leader in robotic and virtual
reality-enabled rehabilitation technology
SAN
FRANCISCO and NORWELL,
Mass., Dec. 12, 2022 /PRNewswire/ -- Aurora
Technology Acquisition Corp. (NASDAQ: ATAK) ("ATAK"), a
publicly-traded special purpose acquisition company ("SPAC") and
DIH Technology Ltd. ("DIH"), a leading global robotics and virtual
reality ("VR") technology provider in the rehabilitation and human
performance industry, today announced the signing of a non-binding
Letter of Intent ("LOI") for a potential business combination.
Under the terms of the LOI, ATAK and DIH would become a combined
entity, with DIH's shareholders rolling 100% of their equity into
the combined public company. ATAK and DIH expect to announce
additional details regarding the business combination when a
definitive agreement is executed, which is expected before
January 31, 2023.
As a global leader in the development and marketing of robotics
for rehabilitation and virtual reality-based advanced movement
platform for human performance, DIH owns industry-leading brands
like HOCOMA and Motek, with more than 4,500 robots and advanced
VR-based movement systems installed in 70 countries. DIH's
principal customers include advanced research centers, innovative
rehabilitation hospitals, and top healthcare clinics.
"We are very impressed by both the entrepreneurial spirit
driving ATAK's management team as well as its diverse and
well-respected board members and advisors. We believe the
combination with ATAK will facilitate our launch as a public
company with strong corporate governance, expand our capital market
expertise, and enhance our strategic investment capabilities,
including M&A. These all are critical to DIH's growth strategy
as a transformative and innovative total solution provider and
consolidator in the highly fragmented rehabilitation technology
industry." said Jason Chen, CEO and
Chairman of DIH's board of directors.
Zachary Wang, CEO and Chairman of
ATAK's board of directors, commented, "DIH fits our acquisition
target profile well as a multi-national smart technology provider
in the human rehabilitation and performance industry. Founded by
Asian-American entrepreneurs with over 20 years of experience
managing global healthcare operations, the company has a strong
tenured management team. We see DIH as an exciting opportunity for
growth, with its proprietary technology, scalable business model,
and experienced leadership team positioning it to expand its global
market share and continue to drive innovations that lead the
industry in benefiting patients. We believe that the merger and
access to public markets will enable the company to continue to
scale its global platform and deliver on its growth potential."
About Aurora Technology
Acquisition Corp. (NASDAQ: ATAK)
Aurora Technology Acquisition Corp. is a Cayman Islands-exempted , San Francisco-based, special purpose
acquisition corporation. ATAK's securities are listed on NASDAQ,
with $202M cash in trust raised
through its IPO. As a blank check company, ATAK was formed with the
purpose of entering into a merger with a high-growth technology
company, which preferably is founded by Asian or Asian-American
entrepreneurs who are building a global enterprise supported by
forward-thinking visions and innovative frontier technologies. ATAK
seeks to identify compelling opportunities where an alignment of
its operating expertise, investing experience, and a global network
can accelerate the growth of the company 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 vision to "Deliver Inspiration &
Health" to improve the functioning of millions of people with
disability and functional impairments. DIH is a global solution
provider in blending innovative robotic and VR technologies with
clinical integration and insights. Built through the mergers of
global-leading niche technologies providers like HOCOMA- a
Switzerland-based global leader in
robotics for rehab, and MOTEK- a Netherlands-based global leader in
sophisticated VR-enabled movement platform powered by real-time
integration, DIH is positioning itself as a transformative total
smart solutions provider and consolidator in a largely fragmented
and manual-labor-driven industry.
DIH website: https://www.dih.com/
Contact:
Jason Chen
CEO & Chairman of the Board
jason.chen@DIH.com
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SOURCE Aurora Technology Acquisition Corp.; DIH Technology
Ltd.