ZenaTech has agreed to acquire a fellow Canadian technology company, the Vancouver-based provider of intelligent drone services announced recently.
ZenaTech, which trades publicly on the Nasdaq as ZENA, revealed this month that it has signed a non-binding offer to acquire an Alberta-based land surveying and geomatics company operating across three Canadian provinces.
The proposed transaction would mark ZenaTech’s first land surveying acquisition in Canada and the first focused on drone-based oil and gas industry services, according to chief executive officer Shaun Passley.
“This proposed acquisition represents an important strategic expansion of our Drone-as-a-Service business into Canada’s oil and gas sector, one of the most significant energy markets in North America,” he says.
Operating from multiple regional offices including the Grande Prairie region, the unnamed Alberta company provides geospatial land surveying, geomatics, mapping, and related environmental support services for oil and gas producers throughout Alberta as well as Eastern British Columbia and Saskatchewan.
“This company brings an established commercial customer base, strong regional expertise, and extensive experience supporting surveying and geomatics projects including for some large producers,” Passley stated.
And drones are already integrated into the target acquisition company’s operations, with approximately 80% of current projects utilizing drone-based workflows as part of surveying and geospatial data collection, which creates an efficient pathway for technological and operational scaling.
“We believe there is a significant opportunity to further enhance these services through AI-powered drone technology for surveying, mapping, inspections, and infrastructure monitoring applications, enabling us to establish a core expertise that we can bring to this fast-growing global industry,” Passley remarked.
Products from ZenaTech include the rugged ZenaDrone 1000, a military-grade drone tested by U.S. Air Force and Navy Reserve that can carry up to 40 kilograms.
There is also the IQ Nano, which is designed for indoor applications, built to operate in environments without GPS like warehouses or military facilities, targeting use cases such as inventory management and security surveillance.
The IQ Square, another offering, is engineered for land surveys, infrastructure inspections, road and bridge inspections, and defence reconnaissance tasks.
ZenaTech was originally founded in 2017 as ZenaPay, a crypto fintech firm.
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