ZenaTech signs offer to acquire Washington-based surveying firm

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA) announced Thursday it has signed an offer to acquire a land surveying and mapping firm in Washington state that serves customers across Washington and Idaho. The company’s stock, which has surged over 61% in the past six months according to InvestingPro data, reflects strong investor confidence in its expansion strategy.

The proposed acquisition would add another location to ZenaTech’s U.S. Drone as a Service (DaaS) business, establishing a presence in the Northwest region. This marks the company’s ninth acquisition toward its stated goal of establishing 25 DaaS locations by mid-2026. With a robust current ratio of 6.78 and impressive revenue growth of 126.52% in the last twelve months, ZenaTech appears well-positioned to execute its expansion plans.

"When closed, we anticipate this acquisition will give us another location in our rapidly expanding US Drone as a Service business, establishing a strong foothold in the Northwest and unlocking significant opportunity particularly in drone-based land and marine surveys," said Shaun Passley, CEO of ZenaTech.

The company’s DaaS model provides subscription or pay-per-use access to drone services for surveying, inspections, and other applications. ZenaTech is targeting land surveying businesses for acquisition as part of its strategy to integrate AI-powered drone technology into traditional survey workflows.

According to data cited in the company’s press release, the U.S. land surveying services market was valued at approximately $8.5 billion in 2024 and is projected to reach $12.3 billion by 2033.

ZenaTech specializes in AI drones, DaaS, enterprise SaaS, and quantum computing solutions. The company operates through offices in North America, Europe, Taiwan, and UAE.

The announcement did not disclose the financial terms of the proposed acquisition or the name of the target company.

In other recent news, ZenaTech, Inc. has been active in expanding its operations through several acquisitions. The company completed the acquisition of Cardinal Civil Resources, a land surveying and engineering firm in Virginia, marking its largest acquisition in its Drone as a Service division. This move expands ZenaTech’s drone service operations across Virginia, North Carolina, and South Carolina. Additionally, ZenaTech has signed offers to acquire two Florida-based companies to enter the drone-based power washing sector and enhance its land surveying services.

ZenaTech is also making strides internationally with an offer to acquire a UK-based telecom tower design firm, marking its first expansion into the European market. Furthermore, the company has signed an offer to acquire a Southeast US-based warehouse and inventory management services company that serves the US Department of Defense. In another development, ZenaTech announced the launch of a new Quantum Computing Division focused on defense applications, including quantum-resistant communications and quantum sensing for drone navigation. These strategic moves highlight ZenaTech’s commitment to expanding its technological capabilities and market presence.

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