ZenaTech, Inc. (NASDAQ: ZENA) announced that it has closed its 20th acquisition, purchasing L.D. King, Inc., a civil‑engineering and land‑surveying firm founded in 1965 and headquartered in the Los Angeles area. The deal brings L.D. King’s long‑standing relationships with municipal governments, commercial developers, and private clients into ZenaTech’s growing Drone‑as‑a‑Service (DaaS) network.
ZenaTech’s strategy is to deploy autonomous drones for wildfire management, post‑disaster assessment, and regional planning in the United States’ most wildfire‑prone areas. By adding L.D. King, the company gains immediate access to a customer base that already relies on traditional engineering and surveying services, allowing it to cross‑sell drone solutions and accelerate the rollout of its autonomous platform. The acquisition also strengthens ZenaTech’s position in California’s critical public‑works and infrastructure sectors, where the demand for rapid, data‑driven assessment is high.
Financially, ZenaTech has shown steady revenue growth driven by its DaaS expansion. In the third quarter of 2024, the company reported revenue of $1.96 million, up from $1.83 million in the same period a year earlier, while net income remained negative at $4.48 million. The growth reflects the cumulative effect of 20 acquisitions in the first year of the strategy, but the company continues to invest heavily in technology and integration, which keeps profitability in the red.
The broader drone services market is expanding rapidly, with research from Pragma Market Research projecting a compound annual growth rate of more than 36% and a valuation of $355 billion by 2032. ZenaTech’s focus on domestic, NDAA‑compliant drones positions it to benefit from U.S. government restrictions on foreign‑made equipment, giving it a competitive edge in defense and homeland‑security contracts.
CEO Shaun Passley said, “We have exceeded our first‑year objectives for Drone‑as‑a‑Service, and the addition of L.D. King gives us a powerful platform to deliver drone‑enabled solutions at scale in California’s high‑risk regions.” He added that the integration plan will be completed within 12 months, with a phased rollout of drone services to existing L.D. King clients and a joint marketing push to attract new municipal and commercial customers.
ZenaTech’s integration strategy involves aligning L.D. King’s project management processes with its own cloud‑based workflow system, training engineering staff on drone data collection, and leveraging the company’s AI analytics to enhance survey accuracy. The company expects the combined entity to generate incremental revenue of $0.5 million in the first year post‑integration, driven by cross‑sell opportunities and higher margin drone services.
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