ZenaTech Targets Florida Market with Strategic Acquisition in Surveying Engineering
Deal News | May 21, 2025 | Globenewswire
ZenaTech, a company focusing on AI-enabled drone technology, Drones as a Service (DaaS), and other technology solutions, has announced an acquisition offer targeting a well-established surveying engineering firm in Florida. This acquisition aims to complement ZenaTech's recent purchase of another surveying company and enhance its market presence in Florida, which is experiencing significant growth in the surveying industry. The acquisition marks ZenaTech's fourth in the Southeastern U.S. and fifth nationwide. CEO Shaun Passley emphasized the acquisition's role in expanding regional coverage and improving the precision and speed of survey processes, particularly in construction, real estate, and government sectors. The company is leveraging the rapid growth of drone-based surveying, which is predicted to grow over 19% annually. ZenaTech's DaaS model, akin to SaaS, allows businesses and government agencies access to drones for various services without owning or maintaining the equipment. The news aligns with ZenaTech's strategic objectives to scale its services and capture long-term value in traditional sectors ready for drone technology innovation.
Sectors
- Technology
- Aerospace and Defense
- Real Estate and Construction
Geography
- United States – The primary focus of the article is ZenaTech's expansion in the Southeast U.S., specifically targeting the Florida surveying market.
- Canada – ZenaTech's headquarters, as mentioned in the article, is located in Vancouver, British Columbia.
Industry
- Technology – The article is centered on ZenaTech, a company specializing in drone technology, AI, and SaaS solutions.
- Aerospace and Defense – ZenaTech operates within the drone technology sector, which often interacts with aerospace and defense for applications like surveillance and security.
- Real Estate and Construction – The acquisition targets the surveying engineering sector, which plays a crucial role in real estate and construction projects through precise and efficient land surveys.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ZenaTech | Bidding Company | Company | A technology company specializing in drone and AI-enabled services, pursuing an acquisition to expand its market reach in the U.S. |
| Shaun Passley | CEO | Person | CEO of ZenaTech, providing strategic insights on the acquisition and its implications for the company's growth. |
| Unnamed Survey Engineering Firm | Target Company | Company | The well-established Florida-based surveying engineering firm targeted for acquisition by ZenaTech to complement its services. |
| Linda Montgomery | PR Contact | Person | Responsible for communications with the media regarding ZenaTech's announcements. |
| Michael Mason | Investor Relations | Person | Handles investor communications for ZenaTech. |