DIH is a world leader in robotic rehabilitation and virtual reality technologies
SAN FRANCISCO and NORWELL, Mass., December 12, 2022 /PRNewswire/ — Aurora Technology Acquisition Corp. (NASDAQ: ATAK) (“ATAK”), a publicly traded Special Purpose Acquisition Company (“SPAC”) and DIH Technology Ltd. (“DIH”), a global robotics leader and virtual reality (“VR”) technology provider in the rehabilitation and human performance industry, today announced the signing of a letter of intent (“LAW”) non-binding for a possible business combination.
Under the terms of the letter of intent, ATAK and DIH would become a combined entity, with DIH shareholders transferring 100% of their capital to the combined public company. ATAK and DIH plan to announce additional details regarding the business combination when a definitive agreement is signed, which is expected before January 31, 2023.
As a global leader in the development and commercialization of robotics for rehabilitation and virtual reality-based advanced motion platform for human performance, DIH owns industry-leading brands such as HOCOMA and Motek, with more than 4,500 robots and advanced motion systems based on virtual reality installed in 70 countries. DIH’s primary clients include cutting-edge research centers, innovative rehabilitation hospitals, and cutting-edge healthcare clinics.
“We are very impressed with both the entrepreneurial spirit that drives ATAK’s management team as well as its diverse and respected board members and advisors. We believe the combination with ATAK will facilitate our launch as a public company with strong corporate governance, will broaden our capital market expertise and enhance our strategic investment capabilities, including mergers and acquisitions.All of this is critical to DIH’s growth strategy as a transformative and innovative total solutions provider and consolidator in the highly fragmented rehabilitation technology industry. Jason ChenCEO and Chairman of the Board of DIH.
Zachary WangCEO and Chairman of the Board of ATAK, said: “DIH fits well with the profile of our acquisition target as a multinational provider of smart technologies in the human rehabilitation and performance sector. Founded by Asian American entrepreneurs with over 20 years of experience managing healthcare operations, the company has a strong permanent management team. We view DIH as an exciting growth opportunity, with its proprietary technology, scalable business model and experienced management team positioning it to expand its global market share and continue to drive industry-leading innovations to benefit patients. . We believe the merger and access to public markets will allow the company to continue to evolve its global platform and realize its growth potential.
About Aurora Technology Acquisition Corp. (NASDAQ: ATAK)
Aurora Technology Acquisition Corp. is a Cayman Islands– exempt, San Franciscospecial purpose acquisition company. ATAK’s securities are listed on NASDAQ, with $202M trust funds raised through its IPO. As a blank check company, ATAK was created with the aim of merging with a high-growth technology company, which is preferably founded by Asian or Asian-American entrepreneurs who are building a global company supported by forward visions. – forward-thinking and innovative. advanced technologies. ATAK seeks to identify attractive opportunities where an alignment of its operational expertise, investment experience and global network can accelerate business growth for multinational expansion.
ATAK website: https://www.auroraspac.com/
CEO and Chairman of the Board
About DIH Technology, Ltd.
IHL represents the vision of “Offer inspiration and health” to improve the functioning of millions of people with disabilities and functional impairments. DIH is a global solutions provider combining innovative robotics and virtual reality technologies with clinical integration and knowledge. Built through the merger of global technology providers from niche like HOCOMA- Swissworld leader in robotics for rehabilitation, and MOTEK- a NetherlandsDIH, a global leader based on a sophisticated VR-enabled motion platform powered by real-time integration, DIH positions itself as a provider and consolidator of transformative total intelligent solutions in a largely fragmented and customer-driven industry. manual work.
IHL website: https://www.dih.com/
CEO and Chairman of the Board
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SOURCEAurora Technology Acquisition Corp. ; DIH Technology Ltd.