ZenaTech signs offer to acquire North Carolina land surveying firm

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA), whose stock has seen a strong 3-month rally despite falling 55% over the past year, has signed an offer to acquire a North Carolina-based land surveying company with over three decades of experience serving government agencies and commercial clients, the company announced Thursday. InvestingPro analysis shows the company trading above its Fair Value, with 12 additional key insights available to subscribers.

This proposed acquisition would expand ZenaTech’s operations in North Carolina when combined with a previously announced land survey acquisition in the same state. The target company provides boundary surveys, topographic surveys, ALTA/ACSM surveys, and construction staking services to government agencies, municipal governments, construction companies, and real estate developers. With a market capitalization of $98.7 million and analysts forecasting sales growth, ZenaTech continues its expansion despite operating with negative EBITDA of -$4.18 million in the last twelve months.

The acquisition is part of ZenaTech’s strategy to build a national Drone as a Service (DaaS) business with regional hubs. The company plans to integrate its AI-powered drone technology into land survey workflows to improve speed and precision.

"This proposed acquisition aligns with our strategy to build a robust, scalable, national Drone as a Service business while empowering strong regional and local hubs and recurring revenue opportunities," said Shaun Passley, ZenaTech CEO, according to the press release.

ZenaTech’s DaaS business model offers customers drone services without requiring them to purchase hardware, hire pilots, or manage regulatory approvals. The company has completed five acquisitions across the U.S. to date and plans to complete 20 more in the next 12 months.

ZenaTech specializes in AI drone technology, DaaS, enterprise SaaS, and Quantum Computing solutions. The company operates through seven global offices in North America, Europe, Taiwan, and UAE.

Financial terms of the proposed acquisition were not disclosed in the company’s statement. Investors can track ZenaTech’s next earnings report, scheduled for August 13, through InvestingPro, which provides comprehensive financial analysis and real-time updates on company performance metrics.

In other recent news, ZenaTech, Inc. has made significant strides with its business operations and product offerings. The company announced the launch of the ZenaDrone IQ Nano, a compact autonomous drone designed for U.S. Department of Defense applications, which features advanced imaging and AI capabilities. ZenaTech is also accelerating the development of its Counter-Unmanned Aircraft System technology for the ZenaDrone 1000 platform, following a White House executive order aimed at strengthening U.S. airspace sovereignty. Furthermore, the company has signed an offer to acquire a Virginia-based land survey and civil engineering firm, marking its first expansion into the southeastern United States. In a strategic move to enhance its market presence, ZenaTech has engaged Bromelkamp Government Relations and Winning Strategies Washington to support its Drone as a Service (DaaS) initiative for defense agencies. The company is also ramping up production of its drones in response to a government directive to prioritize domestic drone manufacturing. ZenaTech is pursuing Green UAS and Blue UAS certifications to align with federal standards for secure drone operations. These developments highlight ZenaTech’s ongoing efforts to expand its footprint in the defense and government sectors.

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