ZenaTech signs offer to acquire Colorado land surveying firm

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) announced Thursday it has signed an offer to acquire a Colorado-based land surveying firm, marking the company’s first Drone as a Service (DaaS) location in its Central West US region. According to InvestingPro data, ZenaTech currently trades near $5.15 per share with a market capitalization of $178 million, and analysis suggests the stock is currently overvalued relative to its Fair Value.

The acquisition target, which was not named in the press release, provides surveying services including monumented land surveys, property surveys, topographic surveys, and drone aerial topographic surveys across multiple Colorado counties.

"This proposed acquisition will mark our Colorado debut, a state with a challenging surveying landscape from rugged mountains to vast ranch lands," said Shaun Passley, ZenaTech CEO.

The company plans to combine traditional survey workflows with its AI drone technology to access difficult terrain and capture data more efficiently.

This would be ZenaTech’s eleventh acquisition toward its goal of establishing 25 DaaS locations by mid-2026. The company’s DaaS model offers businesses and government customers pay-per-use or subscription access to drone-based services for surveying, inspections, and process automation.

According to Business Research Insights data cited in the announcement, the US land surveying and mapping services market was valued at approximately $36.42 billion in 2024 and is projected to reach $47.46 billion by 2033. Despite operating with moderate debt levels, ZenaTech maintains strong liquidity with a current ratio of 6.78, indicating robust short-term financial health. Discover 8 more key financial insights about ZenaTech with an InvestingPro subscription.

ZenaTech (NASDAQ:ZENA) specializes in AI drones, DaaS, enterprise SaaS, and quantum computing solutions for business and government applications. The company operates through offices in North America, Europe, Taiwan, and UAE. The stock has shown strong momentum with a 65% price return over the past six months, though it remains 41% below its 52-week high of $12.43.

Financial terms of the proposed acquisition were not disclosed in the company’s statement.

In other recent news, ZenaTech, Inc. has completed the acquisition of A&J Land Surveyor, a Jacksonville-based company specializing in complex surveying projects in Florida. This marks ZenaTech’s tenth acquisition in the Drone-as-a-Service (DaaS) sector. Additionally, ZenaTech has signed an offer to acquire a land surveying and mapping firm in Washington, which would establish a presence in the Northwest region, marking its ninth acquisition toward its goal of 25 DaaS locations by mid-2026. Furthermore, ZenaTech has signed offers to acquire a Southeast US-based defense logistics company that serves the US Department of Defense and holds active multi-year government contracts. The company has also signed an offer to acquire a UK-based 3D design and modeling firm in the telecommunications sector, marking its first expansion into the United Kingdom. In its expansion efforts, ZenaTech has targeted two Florida-based companies, one in the drone-based power washing sector and another land surveying firm serving Florida developers and homebuilders. These acquisitions are part of ZenaTech’s strategic push to broaden its service offerings and geographical reach in the DaaS industry.

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