ZenaTech Expands Drones-as-a-Service with Wallace Surveying Acquisition

Deal News | Apr 03, 2025 | Globenewswire

ZenaTech Expands Drones-as-a-Service with Wallace Surveying Acquisition

ZenaTech, a technology company specializing in drones with artificial intelligence, has announced its second acquisition in the southeastern United States with the purchase of Wallace Surveying Corporation. This acquisition is part of ZenaTech's broader strategy to revolutionize the surveying industry by integrating drone technology for enhanced speed and precision. Wallace, based in West Palm Beach, Florida, is a well-established firm with thirty years of experience in providing accurate and reliable surveying data to developers, contractors, engineers, and architects. This acquisition will support ZenaTech's national expansion of its Drones-as-a-Service (DaaS) division, allowing access to ZenaDrone 1000 and IQ series, which offer multi-functional services including electrical line inspections, precision agriculture, law enforcement, and disaster response. ZenaTech's DaaS model allows businesses to access advanced drone technology on a subscription or pay-per-use basis, eliminating the need for clients to purchase and maintain expensive drones while providing scalability and access to state-of-the-art sensors and accessories. The drone-based surveying market is anticipated to grow significantly, exceeding $8 billion globally by 2030, driven by demand in sectors such as construction, agriculture, and infrastructure development.

Sectors

  • Technology
  • Surveying and Mapping Services
  • Drones and Aviation

Geography

  • United States – Wallace Surveying Corporation is based in West Palm Beach, Florida, and ZenaTech is expanding its presence in the southeastern U.S.
  • Canada – ZenaTech is headquartered in Vancouver, British Columbia, which makes Canada a relevant geography for the company's operations.

Industry

  • Technology – This industry is relevant due to ZenaTech's specialization in AI-driven drone technology and its expansion through the acquisition.
  • Surveying and Mapping Services – Relevant because the acquisition of Wallace Surveying Corporation directly targets survey and mapping capabilities.
  • Drones and Aviation – Pertinent because ZenaTech's business revolves around drones and the DaaS model, focusing on aerial data collection and services.

Financials

  • N/A – The article does not specify the financial terms of the acquisition.

Participants

NameRoleTypeDescription
ZenaTech, Inc.AcquirerCompanyA tech firm specializing in AI-driven drone solutions and SaaS, focusing on innovating processes in various sectors.
Wallace Surveying CorporationTarget companyCompanyA well-established survey firm in Florida providing reliable surveying services for construction and development projects.