ZenaTech Hits 25th Acquisition, Closes Velocity Geomatics Deal to Enter Oil & Gas Drone Services
ZENA sits 27% above its 52-week low of $1.15.
Summary
ZenaTech closed its acquisition of Velocity Geomatics, marking its 25th deal and entry into drone-based environmental and regulatory services for the oil and gas sector. The target operates across Western Canada, with 80% of projects already using drones, and serves major energy producers. This follows signed offers reported in May and June, and fulfills the company's January 2025 goal of 25 acquisitions by mid-2026. The move taps a $2.3B market growing at 28% annually, adding a new vertical to ZenaTech's DaaS roll-up strategy. With the milestone met, management signaled new benchmarks ahead, suggesting the acquisition pace may continue.
At the time of this announcement, ZENA was trading at $1.46 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $130.1M. The 52-week trading range was $1.15 to $7.11. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.