Following news of its most recent acquisition attempt, ZenaTech, Inc.’s (NASDAQ: ZENA) stock price is rising significantly today. The stock of ZENA has increased by 9.56% to $4.76 as of the most recent update.
Purchasing and Growing Strategically in Southeast Florida
A Letter of Intent (LOI) has been signed by ZenaTech to purchase a fifth Southeast Florida-based land surveying and engineering company. As it continues to grow its nationwide Drone as a Service (DaaS) business, this is the company’s second purchase in the Southeast. Through the integration of AI-powered drones outfitted with cutting-edge sensors and Light Detection and Ranging (LiDAR) technology, the acquisition seeks to provide accurate and effective services to the public and commercial sectors.
Using Drones to Protect Borders and Enforce the Law
The recently purchased business will be crucial to expanding ZenaTech’s drone capabilities for border security. The business intends to use its ZenaDrone AI drones to help law enforcement and the border patrol tackle the serious problem of illegal immigration, which the Federation for American Immigration Reform estimates would cost Florida taxpayers over $8 billion in 2023. This program is a component of a larger plan to use advanced drone technology to increase border security’s speed and accuracy.
The DaaS Model Provides Affordable Drone Options
ZenaTech’s DaaS business model is poised to revolutionize industries ranging from construction to agriculture. By acquiring land survey engineering firms, ZENA is setting the stage for offering drones on a pay-as-you-go basis, enabling businesses and government agencies to access high-tech solutions without the upfront costs of purchasing hardware and software.
This model, similar to Amazon Web Services, allows ZenaDrone to own the drones while employing skilled pilots to provide tailored services, enhancing productivity and operational efficiency. The use of drones, equipped with an array of sensors and GPS systems, is already transforming land surveying. ZenaTech’s integration of this technology is speeding up data collection processes, significantly reducing the time and cost compared to traditional methods.
Strong Market Performance and Investor Interest
ZenaTech’s continued expansion and adoption of AI-driven drone technology have contributed to strong market confidence. With a quarterly increase of over 100%, ZENA stock has garnered significant investor interest.
The company currently holds an ST score of 42 on our screener, indicating promising momentum. Investors seeking comparable high-performing stocks within the Software-Infrastructure industry can explore further opportunities through our screener link.