Metro One Telecommunications, Inc. (OTCPINK: WOWI) recorded significant gains during the previous session as it rose 68.95% to $0.2198 at close. Last week, Metro One stock returned 46.53%, compared to 63.06% over the past month.

Since WOWI stock rose when no current news was available, there may be some basis for believing recent developments will provide additional information about WOWI.

What has recently occurred at WOWI?

Metro One specializes in call center and data management services. In addition to inbound and outbound contact centers, WOWI provides data and analytics as well as other services. Based in Beaverton, Oregon, WOWI was founded in 1989.

Stratford Ltd., an Israel-based wholly owned subsidiary of Metro One, recently closed a $3.5 million financing round and acquired Royal App Ltd.

• The financing was provided by institutional investors and family offices through puttable Simple Agreements for Future Equity (“SAFE”).
• In order to acquire some assets, Stratford received notification that its winning bid was approved by the Lod District Court.
• In addition to those assets, there is intellectual property from Royal App Ltd. (out of insolvency proceedings) worth approximately $2.4 million in cash in addition to equity in Metro One.
• WOWI was able to finance and acquire Royal App as well as inject working capital into Royal App as a result of the financing.

What WOWI will be getting?

WOWI will be building on the artificial intelligence technology developed by Royal App, which has been praised by customers internationally. By acquiring Royal App, Metro One (WOWI) will be able to benefit from an exciting advanced technology business.