ZenaTech to Acquire Canadian Land Surveying Firm, Expanding Drone-as-a-Service into High-Growth Oil & Gas Market
ZENA is trading near its 52-week low of $1.15 (2.6% above the low).
Summary
ZenaTech has signed an offer to acquire an Alberta-based land surveying company, marking its first Drone as a Service (DaaS) acquisition in Canada focused on the oil and gas sector. This strategic expansion targets a market projected to grow at 28.5% annually, with the acquired company already utilizing drone-based workflows for 80% of its projects. This move aligns with ZenaTech's active growth-by-acquisition strategy, following a recently disclosed $33 million drone technology acquisition and ongoing capital raises.
At the time of this announcement, ZENA was trading at $1.18 on NASDAQ in the Technology sector, with a market capitalization of approximately $56.7M. 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: FinanceWire.