Arogo Capital Acquisition Corp. Enters Into Business Combination Agreement with EON Reality Inc., a Leading Virtual and Augmented Reality and Knowledge Metaverse Company – Yahoo Finance

EON Reality, Inc. Will Become a Public Company Listed on NASDAQ Under the Name EON Reality, Inc.

  • Transaction solidifies EON Reality Inc.’s (“EON Reality”) position as a leading global provider of Virtual- and Augmented-Reality (AR/VR) academic- and industry-training solutions.

  • As a key pioneer in AR/VR and Knowledge Metaverse, EON Reality has spent over 20 years building and developing leading-edge AR/VR education and industry solutions known as Extended Reality, EON-XR, or XR.

  • Transaction reflects an implied pro-forma enterprise value at closing of approximately $655 million.

MIAMI, FL and IRVINE, CA, April 26, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Arogo Capital Acquisition Corp. (NASDAQ: “AOGOU, AOGO, AOGOW”) (“Arogo”), a special purpose acquisition corporation, announced today that it has entered into a definitive business combination agreement with EON Reality, Inc. (“EON Reality”), a global leader in Virtual and Augmented Reality and Knowledge Metaverse industry and education solutions. Upon closing of the transaction, the combined entity, which will retain the name of EON Reality, Inc., will be led by seasoned chief executive officer, Dan Lejerskar, Founder, Chairman and CEO of the current EON Reality.

With over 20-years experience as a solution and thought leader in Virtual and Augmented Reality, EON Reality has grown into a global leader for academic and industry training solutions. EON Reality believes that knowledge is a human right which should be available, accessible, and affordable for every person on the planet!

To achieve this goal, EON Reality has developed the de-facto standard for XR education and industry solutions that support devices from mobile phones to head-mounted displays to large-scale screens and even to facilities. As a result of the culmination of years of work with global enterprises and world-class academic institutions, EON Reality’s EON-XR serves as the primary product and content delivery vehicle for XR education and industry solutions.

Founded around EON Reality’s fundamental human right principles that a person should “Learn, Train, Perform,” EON-XR contains the backend support and architecture that large organizations need to quickly and efficiently build, deploy, and scale XR applications to supplement their employees’ current training and increase productivity efforts.

Management Comments

“Virtual and Augmented Reality and Knowledge Metaverse are among the biggest opportunities right now with immense growth potentials ahead. Amidst all the excitements and rush to enter this space, EON Reality stands out distinctly and firmly on strong foundations built over the many years with a clear purpose of making knowledge available, accessible and affordable for every person on the planet, and we are extremely delighted to be announcing this business combination to deliver lasting, positive impact,” says Suradech Taweesaengsakulthai, CEO and Director of Arogo.

“EON Reality is among the most exciting technology companies we have encountered in the Virtual and Augmented Reality and the Knowledge Metaverse spaces, with what the company has been able to achieve over the years and with all the exciting plans and growth opportunities globally in the upcoming future. I’m confident that with this business combination, EON Reality will be propelled onto a new growth trajectory in existing and new markets in significant ways,” added Raymond Chee, Chief Strategy Officer of Arogo.

“EON Reality has been a driving force behind the expansion of XR technology utilization and the Knowledge Metaverse globally for two decades now. Partnering with …….

Source: https://finance.yahoo.com/news/arogo-capital-acquisition-corp-enters-113000502.html

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