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VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) (FSE:49Q) (BMV:ZENA), a $49 million market cap company specializing in AI drone technology and Quantum Computing solutions, has announced a Letter of Intent (LOI) to acquire its eighth land survey engineering firm, marking its second such acquisition in Arizona. According to InvestingPro data, the company’s stock has experienced significant volatility, declining over 67% in the past year. This strategic move aims to bolster the company’s Drone as a Service (DaaS) business model across the Southwest region of the United States.
The acquisition is set to enhance ZenaTech’s national presence, with the company’s CEO, Shaun Passley, Ph.D., highlighting the importance of Arizona as a key location for its subsidiary ZenaDrone and its second drone manufacturing facility. While the company has achieved 9.19% revenue growth over the last twelve months, InvestingPro analysis shows it remains unprofitable, with additional financial metrics available to subscribers. The DaaS model, which offers AI drone solutions on a subscription or pay-per-use basis, is part of ZenaTech’s strategy to tap into the burgeoning drone survey market—anticipated to reach $2.5 billion by 2033 in the U.S. alone.
The global drone surveying market is expected to grow significantly, with a projected value of over $8 billion by 2033, of which North America could represent 35%. The market is witnessing a compound annual growth rate (CAGR) of over 19%, fueled by demand from construction, agriculture, and infrastructure sectors. Land surveys, which account for 53% of this market, are increasingly utilizing drone technology for efficient data gathering.
ZenaTech’s DaaS offering is designed to reduce upfront costs for customers such as government agencies, builders, real estate developers, and farmers, by eliminating the need to purchase and maintain drones. The company’s drones, equipped with sensors, cameras, LiDAR, and GPS systems, provide accurate land surveys for various applications including urban planning, environmental assessments, and infrastructure projects.
The announcement is based on a press release statement and reflects ZenaTech’s ongoing efforts to innovate in the field of AI drones and enterprise solutions. The company, with offices across North America, Europe, Taiwan, and the UAE, continues to develop its DaaS business model and partner network to meet the evolving needs of its customers in various sectors. Financial data from InvestingPro indicates a current ratio of 1.57, suggesting adequate liquidity to support its expansion plans. Discover more insights and 8 additional ProTips by subscribing to InvestingPro, including detailed valuation metrics and growth potential analysis.
In other recent news, ZenaTech, Inc. has announced its intent to acquire a Florida-based land survey engineering firm, marking its second acquisition in the Southeast region. This strategic move aims to expand ZenaTech’s Drone as a Service (DaaS) business model, leveraging Florida’s favorable innovation environment and consistent drone regulations. Additionally, ZenaTech is set to acquire an Arizona-based land survey firm, enhancing its service capabilities in the Southwest region. The company has also expanded its workforce by hiring 35 new positions to accelerate drone production at its facility in Sharjah, UAE, responding to increased demand for its ZenaDrone 1000 and IQ series drones. ZenaTech has finalized the design of its third-generation ZenaDrone 1000, tailored for the U.S. defense and commercial markets, and has advanced the IQ Square Drone to the manufacturing stage. The company is further strengthening its presence in East Asia by expanding its Taiwan subsidiary, Spider Vision Sensors, to cater to the growing demand for military and commercial drones. This expansion includes forming partnerships with local component manufacturers to ensure U.S. military compliance. These developments reflect ZenaTech’s strategic efforts to grow its global reach and enhance its offerings in the competitive drone industry.
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