ZenaTech Bolsters SaaS Division with NOW Solutions Acquisition, Adding Government & Public Sector Clients
ZENA is trading near its 52-week low of $1.95 (10% above the low).
Summary
ZenaTech has completed the acquisition of NOW Solutions Inc., a move that significantly expands its Enterprise SaaS division. This acquisition, made through a bankruptcy sale, brings a substantial base of government and public sector customers with decades-long relationships, enhancing ZenaTech's recurring revenue streams. This strategic addition aligns with ZenaTech's ongoing M&A activity, as evidenced by its recent 21st acquisition announced on April 9th. The deal is expected to strengthen the durability and quality of ZenaTech's revenue growth. Investors will be watching for details on the financial contribution and integration of NOW Solutions into ZenaTech's portfolio.
At the time of this announcement, ZENA was trading at $2.15 on NASDAQ in the Technology sector, with a market capitalization of approximately $103.9M. The 52-week trading range was $1.95 to $7.11. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.