ZenaTech Signs LOI to Acquire Arizona Land Survey Company
Deal News | Mar 11, 2025 | Globenewswire
ZenaTech, a technology company that specializes in AI drones and Drone as a Service (DaaS), has announced the signing of a Letter of Intent (LOI) to acquire a land survey engineering company in Arizona. This acquisition, the company's sixth, marks its first in the Southwestern United States and represents a critical expansion of its DaaS business model. The acquisition will serve as a launchpad for further development in the region, while capitalizing on Arizona's favorable regulatory environment for drone operations. Through its DaaS model, ZenaTech offers clients in various sectors scalable access to advanced drone technology on a subscription or pay-per-use basis, reducing capital expenditures and eliminating the need for specialized training or equipment. The acquisition is seen as a significant step towards ZenaTech's goal of establishing a national presence in the DaaS market, especially in sectors such as construction, agriculture, and infrastructure, which are experiencing rapid growth in demand for drone surveying services.
Sectors
- Drone Technology
- Land Surveying and Geospatial Services
- Technology and Software
Geography
- United States – The acquisition target is located in Arizona, and the expansion is part of a broader strategy to enhance national presence in the U.S.
- Arizona – A specific focus on Arizona is emphasized due to its regulatory environment and the strategic location for ZenaTech's expansion into the Southwest.
- Canada – ZenaTech is headquartered in Vancouver, British Columbia, providing a Canadian context to the operations and strategic planning.
Industry
- Drone Technology – The article focuses on ZenaTech's expansion in the field of drones, specifically through their Drone as a Service (DaaS) model.
- Land Surveying and Geospatial Services – ZenaTech's acquisition in Arizona is directly tied to land surveying services that utilize drone technology for data collection and site analysis.
- Technology and Software – ZenaTech's operations and DaaS offerings rely heavily on advanced AI, SaaS, and quantum computing technologies.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ZenaTech, Inc. | Bidding Company | Company | A technology company specializing in AI drone solutions, Drone as a Service (DaaS), and enterprise SaaS, seeking to expand its operations in the Southwestern U.S. market through the acquisition. |
| Land Survey Engineering Company | Target Company | Company | An engineering firm located in Arizona, specializing in land surveys, which is the target of ZenaTech's acquisition. |
| Shaun Passley, Ph.D. | CEO | Person | CEO of ZenaTech, leading the strategic expansion into the Southwest region via the acquisition of the Arizona-based survey company. |