ZenaTech set to acquire Arizona land survey firm

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA), a company specializing in AI drones and related services with a current market capitalization of $46.21 million, announced its intention to acquire an Arizona-based land survey engineering company, marking its first venture into the Southwest Region. According to InvestingPro data, the company has shown revenue growth of 9.19% in the last twelve months, despite challenging market conditions. The acquisition aims to boost ZenaTech’s Drone as a Service (DaaS) business model, leveraging the favorable regulatory environment for drone companies in Arizona.

The Letter of Intent (LOI) underscores ZenaTech’s strategy to establish a regional foothold, with the acquired company serving as a springboard for further expansion. While the company maintains a healthy current ratio of 1.57, InvestingPro analysis indicates the stock has experienced significant volatility, with the share price currently at $2.67, down considerably from its 52-week high of $12.43. The move is expected to enhance the delivery of AI drone solutions to businesses and government entities on a subscription or pay-per-use basis.

ZenaTech’s CEO, Shaun Passley, Ph.D., emphasized the strategic significance of the Arizona location, citing existing company facilities and the state’s drone-friendly climate as advantageous for their DaaS model. The model is designed to offer customers reduced upfront costs and the convenience of not having to maintain the drones themselves.

The global drone surveying market, which includes land surveys, is forecasted to exceed USD $8 billion by 2030, growing at a CAGR of 15-20%, according to Fact.MR. This growth is driven by increasing demand from sectors such as construction, agriculture, and infrastructure development.

ZenaTech’s portfolio includes the ZenaDrone 1000 for agriculture and defense applications, the IQ Nano for warehouse and logistics inventory management, and the IQ Square for land survey and inspections. With offices across North America, Europe, Taiwan, and the UAE, the company is expanding its DaaS business model and global partner network.

This expansion is part of ZenaTech’s broader vision to innovate in mission-critical business applications through AI drone, enterprise SaaS, and Quantum Computing solutions. The company aims to improve operational efficiencies, accuracy, and cost savings across various sectors, including law enforcement, health, government, and industrial.

The information provided is based on a press release statement from ZenaTech, Inc. Financial metrics reveal the company faces profitability challenges with negative EBITDA of $0.22 million. InvestingPro subscribers have access to 8 additional key insights about ZenaTech’s financial health and growth prospects, essential for making informed investment decisions in the evolving drone technology sector.

In other recent news, ZenaTech, Inc. has announced several developments aimed at enhancing its position in the drone technology and quantum computing sectors. The company reported successful initial testing results for its Quantum Computing Sky Traffic project, which utilizes AI and quantum computing to improve weather forecasting accuracy. This initiative is part of ZenaTech’s broader strategy to develop advanced applications for drone traffic management and defense. Additionally, ZenaTech is expanding its team by hiring quantum, AI, and hardware engineers to support this project.

ZenaTech is also testing a new high-density battery for its ZenaDrone 1000 model, developed by Galaxy Batteries Inc., to enhance flight time and payload capacity. This development aligns with the company’s goal to become a Blue UAS-certified supplier to U.S. defense branches, requiring compliance with NDAA cybersecurity standards. In parallel, the company has announced an expansion of its Taiwan subsidiary, Spider Vision Sensors, to strengthen its presence in the East Asian drone markets.

The expansion includes hiring additional staff and increasing partnerships with local manufacturers to meet U.S. military compliance requirements. ZenaTech has conducted paid trials with the U.S. Air Force and Navy, demonstrating its drones’ capabilities in logistics and transportation. These moves reflect ZenaTech’s ongoing efforts to enhance its product offerings and supply chain resilience in the competitive global drone market.

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