ZenaTech Acquires Miller Land Surveying to Boost AI Drone Services in Southeast US

ZenaTech acquires Florida land survey firm to boost drone services By Investing.com

VANCOUVER - ZenaTech, Inc. (NASDAQ:ZENA), a $55.72 million market cap company specializing in AI drone technology and related services, has completed the acquisition of Miller Land Surveying Corporation, a Florida-based firm with a 40-year history in land survey and mapping. According to InvestingPro data, ZenaTech generated revenue of $1.37 million in the last twelve months, though the company faces challenges with rapid cash consumption. This move marks ZenaTech's third acquisition in the Southeast region and fourth in the United States, advancing its strategy to disrupt the land survey industry by integrating drone technology. The acquisition of Miller Land Surveying, known for its quality services in Palm Beach County, is part of ZenaTech's broader vision to establish a national Drone-as-a-Service (DaaS) business. The company's CEO, Shaun Passley, Ph.D., emphasized the alignment of Miller's experience with ZenaTech's innovative approach, aiming to enhance residential and business land surveys with drone capabilities. ZenaTech's DaaS business model is designed to offer clients like government agencies, real estate developers, and energy companies the benefits of advanced drone technology without the need for ownership or specialized training. While the company maintains a healthy current ratio of 2.17, indicating strong short-term liquidity, InvestingPro analysis reveals negative EBITDA of $2.04 million, highlighting the challenges in its growth phase. Subscribers to InvestingPro can access 11 additional key insights about ZenaTech's financial health and growth prospects. The ZenaDrone 1000 and IQ series drones will be deployed for various services, including land surveys, power line inspections, and precision farming, on a subscription or pay-per-use basis. The integration of drones in land surveying is expected to provide significant speed and accuracy improvements. Drones equipped with sensors, cameras, LiDAR, and GPS systems can rapidly collect aerial data over large areas, a process that traditionally takes much longer. This technological advancement comes as the global drone surveying market is projected to grow to over USD $8 billion by 2030, with a CAGR of 15-20%, according to Fact.MR. ZenaTech's growth strategy includes leveraging its software development expertise and expanding its drone design and manufacturing capabilities through its subsidiary, ZenaDrone. The company serves various sectors, including agriculture, defense, law enforcement, and industrial applications, with its portfolio of drone solutions aimed at improving operational efficiencies and reducing costs. The acquisition's financial terms were not disclosed. This announcement is based on a press release statement from ZenaTech, Inc. The company's stock, currently trading at $2.22, has experienced significant volatility, with a year-to-date decline of 71%. For detailed analysis and Fair Value estimates of ZenaTech and similar growth companies, visit InvestingPro, where you can access comprehensive financial metrics and expert insights. In other recent news, ZenaTech, Inc. has been actively expanding its operations and workforce to meet increasing demand for its drone technology. The company announced plans to expand its ZenaDrone manufacturing capabilities in Phoenix, Arizona, adding up to 2,000 square feet of production space, which aligns with its strategy to enhance domestic production for defense drone solutions. This expansion is expected to create over 150 new jobs by the end of 2026. Additionally, ZenaTech has increased its workforce by hiring 35 engineers and technicians to support its growing production needs. Financially, ZenaTech reported positive results for 2024, with an increase in both revenue and assets, as noted in the CEO's letter to shareholders. The company is also pursuing growth through acquisitions, having completed the acquisition of Othership Limited and signing a Letter of Intent to acquire a seventh land survey company in the Southeast region. Furthermore, ZenaTech has announced its intent to acquire an eighth land survey firm in Arizona, enhancing its Drone as a Service (DaaS) business model. These strategic moves are part of ZenaTech's broader vision to leverage advanced technology and capitalize on the expanding drone survey market, projected to reach significant growth in the coming years. The company's DaaS model aims to reduce upfront costs for customers by offering drone technology on a subscription or pay-per-use basis. These developments underscore ZenaTech's commitment to maintaining a competitive edge and meeting the evolving needs of its clients in various sectors.

ZenaTech Closes Miller Land Surveying Corporation, a Third Southeast Acquisition and a Fourth Nationally for the Drone as Service (DaaS) Rollout

VANCOUVER, British Columbia, April 10, 2025 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces the closing of its acquisition of Miller Land Surveying Corporation ("Miller") of Lake Worth, Florida, a land survey and mapping company with a 40 year history and deep portfolio of business customers in the Palm Beach County area of South Florida. This is ZenaTech's third acquisition in the Southeast region as part of a larger national roll-up strategy to disrupt the land survey industry by accelerating the use of drones for their speed and accuracy benefits. The acquisition also furthers the Company's national Drone as a Service, or DaaS, business rollout as the fourth US acquisition. "Miller Land Surveying brings a wealth of experience and customer relationships as a second-generation company known across Palm Beach County for quality land surveys and mapping. Their pioneering team is well suited to helping us bring drone innovation to premium residential and business land surveys. This acquisition is another step towards our vision to create a national DaaS business, bringing AI drone efficiencies and precision to a variety of legacy business verticals and manual tasks," said CEO Shaun Passley, Ph.D. ZenaTech's DaaS business will incorporate the ZenaDrone 1000 and the IQ series of multifunction autonomous drones to provide a variety of service solutions from land surveys to power line inspections or power washing, made accessible and cost effective through an Uber-like business model on a regular subscription or pay-per-use basis. Customers can conveniently access drones for eliminating manual or time-consuming tasks achieving superior results, such as for surveying, inspections, security and law enforcement, or precision farming applications, without having to buy, operate, or maintain the drones themselves. The DaaS business model offers customers such as government agencies, real estate developers, construction firms, farmers or energy companies reduced upfront costs as there is no need to purchase expensive drones, as well as convenience, as there is no need to manage maintenance and operation. The model also offers scalability to use more often or less often based on business needs and enables access to advanced drone technology sensors or attachments like spraying, without the need for specialized training. Accurate land surveys are essential for the planning, designing, and executing of roads, bridges, and building projects for cities, commercial, and residential projects, and are required for legal purposes. Remotely piloted drones with an array of sensors and cameras, LiDAR (Light Detection and Ranging), and GPS systems for capturing high-resolution pictures and data are revolutionizing the land survey industry gathering aerial data across expansive terrains in a matter of hours instead of weeks or months using more traditional photogrammetry methods. According to Fact.MR, the global drone surveying market is poised for substantial growth and is expected to be worth over USD $8 billion globally by 2030. This market is expanding at a CAGR of 15-20%, driven by increasing demand from industries such as construction, agriculture, and infrastructure development. About ZenaTech ZenaTech (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) is a technology company specializing in AI drone, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions for mission-critical business applications. Since 2017, the Company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and surveying processes. With enterprise software customers using branded solutions in law enforcement, health, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech's portfolio of solutions helps drive exceptional operational efficiencies, accuracy, and cost savings. The Company operates through seven global offices in North America, Europe, Taiwan, and UAE, and is growing a DaaS business model and global partner network. About ZenaDrone ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous business drone solutions that can incorporate machine learning software, AI, predictive modeling, Quantum Computing, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has grown to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, process automation and defense applications. Currently, the ZenaDrone 1000 drone is used for crop management applications in agriculture and critical field cargo applications in the defense sector, the IQ Nano indoor drone is used for inventory management and security in the warehouse and logistics sectors, and the IQ Square is an indoor/outdoor drone designed for land survey and inspections use in commercial and defense sectors. This press release and related comments by management of ZenaTech, Inc. include "forward-looking statements" within the meaning of U.S. federal securities laws and applicable Canadian securities laws. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This forward-looking information relates to future events or future performance of ZenaTech and reflects management's expectations and projections regarding ZenaTech's growth, results of operations, performance, and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "aim", "seek", "is/are likely to", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology intended to identify forward-looking statements. Forward-looking information in this document includes, but is not limited to ZenaTech's expectations regarding its revenue, expenses, production, operations, costs, cash flows, and future growth; expectations with respect to future production costs and capacity; ZenaTech's ability to deliver products to the market as currently contemplated, including its drone products including ZenaDrone 1000 and IQ Nano; ZenaTech's anticipated cash needs and it's needs for additional financing; ZenaTech's intention to grow the business and its operations and execution risk; expectations with respect to future operations and costs; the volatility of stock prices and market conditions in the industries in which ZenaTech operates; political, economic, environmental, tax, security, and other risks associated with operating in emerging markets; regulatory risks; unfavorable publicity or consumer perception; difficulty in forecasting industry trends; the ability to hire key personnel; the competitive conditions of the industry and the competitive and business strategies of ZenaTech; ZenaTech's expected business objectives for the next twelve months; ZenaTech's ability to obtain additional funds through the sale of equity or debt commitments; investment capital and market share; the ability to complete any contemplated acquisitions; changes in the target markets; market uncertainty; ability to access additional capital, including through the listing of its securities in various jurisdictions; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech.