ZenaTech signs offer to acquire Virginia-based survey firm

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) has signed an offer to acquire a land survey and civil engineering firm headquartered in Virginia with operations across three states, the company announced Tuesday in a press release. The announcement comes as ZenaTech’s stock trades at $3.77, showing strong momentum with positive returns over the past three months despite a challenging year that saw a 57% decline in share value, according to InvestingPro data.

The target company, founded in 2010, provides land surveying, civil engineering, land planning, and 3D imaging services in Virginia, North Carolina, and South Carolina. It currently holds contracts with federal and state agencies for infrastructure projects including highways and bridges.

If completed, the acquisition would represent ZenaTech’s first entry into these southeastern states, expanding the company’s Drone as a Service (DaaS) business model in the region.

"This acquisition reinforces our DaaS business model expansion objectives to provide drone innovation supporting US federal government, defense, and infrastructure surveying," said Shaun Passley, CEO of ZenaTech.

The Vancouver-based technology company specializes in AI drones, drone services, enterprise software, and quantum computing solutions. ZenaTech’s DaaS business model provides drone services to business and government customers without requiring them to purchase hardware, hire pilots, or manage regulatory approvals.

The acquisition target company, which was not named in the announcement, has been operating for 15 years and maintains an established client base across federal agencies and regional construction markets.

ZenaTech is listed on multiple exchanges including Nasdaq, Frankfurt Stock Exchange, and the Mexican Stock Exchange. The company operates through seven global offices across North America, Europe, Taiwan, and the UAE.

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

In other recent news, ZenaTech, Inc. has announced several developments that may interest investors. The company has launched the ZenaDrone IQ Nano, a compact autonomous drone designed for defense applications, with plans to seek Green UAS and Blue UAS certifications to secure its position as a supplier for U.S. military customers. In response to a White House executive order, ZenaTech is accelerating the development of its Counter-Unmanned Aircraft System technology for the ZenaDrone 1000 platform. This move aligns with federal directives to prioritize U.S.-made systems and enhance airspace sovereignty. ZenaTech is also fast-tracking the production of its drones in Arizona, leveraging the executive order to meet increased demand for its dual-use defense and commercial drones. Additionally, the company has launched a Drone as a Service offering for U.S. defense and government agencies, forming strategic partnerships to bolster sales in this sector. ZenaTech is actively pursuing Green UAS and Blue UAS certifications to comply with federal standards, positioning itself to secure valuable defense contracts. Lastly, ZenaTech is advancing its drone swarms and quantum computing initiatives for the U.S. military, showcasing these technologies at various investor conferences.

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