ZenaTech Expands Southeast Region with New Acquisition Plan
Deal News | Jan 28, 2025 | Globenewswire
ZenaTech, a technology firm specializing in AI drones and related services, has signed a Letter of Intent to acquire a fourth land survey company in Florida, as part of its Drone-as-a-Service (DaaS) expansion in the US Southeast region. The acquisition aims to bolster ZenaTech's disaster management capabilities, leveraging their ZenaDrone 1000 and new drone swarm technologies to assist in hurricane cleanup efforts, in response to the average $22.8 billion cost per major hurricane. With this strategic move, ZenaTech is poised to enhance its operational footprint, targeting local, state, and federal agencies with its AI-driven solutions, which include advanced surveying, environmental management, and emergency responsiveness. The company plans to produce hundreds of drones, fostering increased regional accessibility and addressing wider market demands. ZenaTech's CEO, Shaun Passley, emphasizes future ambitions in quantum computing and AI drone swarm technologies to enable swift disaster response and damage assessment. The firm continues its aggressive growth trajectory, with potential further acquisitions in the pipeline.
Sectors
- Technology
- Aerospace and Defense
- Surveying and Mapping Services
Geography
- United States – The focus of ZenaTech's acquisition strategy and expansion is in the Southeast region of the US, particularly Florida.
- Canada – ZenaTech is headquartered in Vancouver, British Columbia, indicating its Canadian base.
Industry
- Technology – ZenaTech operates in the technology sector, focusing on AI, drones, and quantum computing solutions.
- Aerospace and Defense – ZenaTech's application of drones in disaster management and defense sectors aligns it with the Aerospace and Defense industry.
- Surveying and Mapping Services – The acquisition of land survey companies and the use of drones for surveying ties the article to the Surveying and Mapping industry.
Financials
- USD $22.8 billion – The average damage cost of a significant landfalling hurricane, which ZenaTech aims to mitigate with its drone technologies.
- $10.3 billion – Estimated value of the US Surveying and Mapping Services industry.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ZenaTech, Inc. | Bidding Company | Company | A technology company specializing in AI drone, DaaS, enterprise SaaS, and quantum computing solutions. |
| Shaun Passley, Ph.D. | CEO | Person | CEO of ZenaTech, leading the company's strategic acquisition and technological expansion initiatives. |
| ZenaDrone | Subsidiary | Company | A subsidiary of ZenaTech developing autonomous business drone solutions. |