US stock futures dip as Nvidia earnings spark little cheer
VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) announced Tuesday it has signed an offer to acquire a UK-based 3D design and modeling company that serves the telecommunications sector, marking the company’s first expansion of its Drone as a Service (DaaS) business into the United Kingdom. The company, currently valued at $170.5 million, has shown strong momentum with an 11.4% return over the past week. According to InvestingPro analysis, ZenaTech appears overvalued at current levels, though it maintains a healthy liquidity position with a current ratio of 6.78.
The target company, which was not named in the announcement, provides transmission tower design, upgrade, and inspection services. ZenaTech said the acquisition would expand its strategic international footprint in Europe while providing new opportunities within the telecommunications and infrastructure sectors. While analysts expect 5% revenue growth this year, InvestingPro data reveals 12 additional key insights about ZenaTech’s growth prospects and financial health that could be crucial for investors considering this expanding company.
"This proposed acquisition further demonstrates our commitment to expand our DaaS business beyond the US seeking targeted long-term growth opportunities," said Shaun Passley, CEO of ZenaTech.
The target company has established telecom customers and provides 3D scanning, modeling, and design services that enable more efficient building, maintaining, and upgrading of telecom infrastructure. ZenaTech indicated future plans include expanding into rust remediation and spray-painting services using drones.
ZenaTech’s acquisition strategy focuses on modernizing traditional surveying and inspection businesses by integrating AI drone capabilities. The company has completed eight acquisitions toward its goal of establishing 25 Drone as a Service locations by mid-2026.
The DaaS model provides business or government clients with subscription-based access to drone services for surveying, inspections, power washing, and maintenance without requiring clients to invest in drone hardware, software, pilots, or regulatory compliance.
The announcement was made in a company press release. No financial details of the proposed acquisition were disclosed.
In other recent news, ZenaTech, Inc. has made significant strides in expanding its operations and capabilities. The company has completed the acquisition of Cardinal Civil Resources, a land surveying and engineering firm, marking its eighth and largest Drone as a Service acquisition. This deal extends ZenaTech’s services across Virginia, North Carolina, and South Carolina and adds prominent clients such as the US Department of Transportation. Additionally, ZenaTech has signed offers to acquire two Florida-based companies, aiming to venture into the drone-based power washing sector and further enhance its land surveying services.
Furthermore, ZenaTech announced the formation of a new Quantum Computing Division, which will focus on defense applications, including quantum-resistant communications and post-quantum cybersecurity. This initiative aligns with priorities set by the U.S. Department of Defense. The company has also established Zena AI, Inc., an AI development center, to create advanced AI software solutions for autonomous drone systems, targeting defense and homeland security needs.
Lastly, ZenaTech has entered a strategic partnership with Eagle Point Funding to secure US defense contracts, offering structured support in identifying and preparing competitive proposals. These developments reflect ZenaTech’s ongoing efforts to expand its technological capabilities and service offerings in the defense sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.