ZenaTech completes 25th acquisition with Velocity Group deal

ZenaTech completes 25th acquisition with Velocity Group deal

Chipmakers weigh on stocks, oil edges higher VANCOUVER, British Columbia - ZenaTech, Inc. (NASDAQ:ZENA) announced Wednesday the completion of its acquisition of Velocity Geomatics Inc., a Grande Prairie, Alberta-based geomatics services provider operating across Western Canada. The company, valued at $115.6 million, has seen its stock rise 9.6% over the past week to $1.49, though shares remain down 63% over six months. The transaction marks ZenaTech’s 25th acquisition since January 2025, when the company stated it would reach that number by mid-2026, according to a press release statement.

The acquisition establishes ZenaTech’s presence in the oil and gas drone inspection services sector. Velocity Group provides geospatial land surveying, mapping, and environmental and regulatory compliance services for oil and gas producers in Alberta, British Columbia, and Saskatchewan. The company operates from three regional offices and a head office in Grande Prairie, serving commercial clients including energy operators and natural gas producers.

Approximately 80% of Velocity’s current projects utilize drone-based workflows for surveying and geospatial data collection. "This acquisition expands our Drone as a Service business into Canada’s oil and gas sector focused on environmental and regulatory assessments for oil extraction and pipelines," said Shaun Passley, CEO of ZenaTech. The aggressive acquisition strategy comes as the company reported revenue of $14.5 million with 705% growth in the last twelve months, though InvestingPro data shows ZenaTech is quickly burning through cash and remains unprofitable.

According to InvestingPro, which offers 13 additional exclusive tips for ZENA, the stock currently trades slightly below its Fair Value. The company cited market analyst data indicating the global oil and gas drone inspection services market is valued at approximately $2.3 billion and is projected to grow at a compound annual growth rate of approximately 28.5%. ZenaTech’s Drone as a Service platform provides business and government clients with subscription-based access to drone services for surveying, inspection, maintenance, and other applications.

The company operates through offices in North America, Europe, Taiwan, and the United Arab Emirates. Financial terms of the acquisition were not disclosed in the press release. In other recent news, ZenaTech, Inc. reported an annualized revenue run rate of approximately CAD $33 million, based on its first quarter 2026 results.

This figure was derived from the company’s first quarter revenue of CAD $8.3 million, although it is not intended as financial guidance for the year. ZenaTech has also signed offers to acquire land survey and geospatial services companies in the United States, Canada, and Australia, with an expected contribution of approximately C$40 million in revenue over the next 12 months following the closing. In addition to these financial developments, ZenaTech’s ZenaDrone subsidiary has commenced field testing of the IQ Aqua autonomous underwater vehicle in Florida.

The company is also developing the IQ Sphere, a soccer ball-sized autonomous drone platform for defense and commercial applications. Furthermore, ZenaTech has announced the development of an AI-enabled camera system for its ZenaDrone IQ Nano indoor drone platform, designed to enhance operations in low-light environments. These advancements highlight the company’s ongoing efforts in expanding its technological capabilities.