AcquisitionsJul 16, 2026, 05:14 PM
ZenaTech Acquires Velocity Geomatics, Expands DaaS in Oil & Gas
AI Summary
ZenaTech, Inc. announced the completion of its acquisition of Velocity Geomatics Inc., operating as Velocity Group. This strategic move marks ZenaTech's entry into drone-based geomatics for environmental and regulatory compliance in the oil and gas industry, establishing a Drones as a Service (DaaS) presence in a sector growing at over 28% annually. The acquisition is ZenaTech's 25th since January 2025, fulfilling a key objective announced during its 2024 public offering. Velocity Group brings established clients and expertise in surveying, mapping, and environmental compliance for major oil and gas producers in Western Canada.
Key Highlights
- ZenaTech completed the acquisition of Velocity Geomatics Inc.
- This is ZenaTech's first acquisition in drone-based geomatics for oil & gas environmental compliance.
- Establishes Drones as a Service (DaaS) presence in a sector growing over 28% annually.
- Marks ZenaTech's 25th acquisition since January 2025, fulfilling a stated goal.
- Velocity Group provides geospatial surveying, geomatics, mapping, and environmental compliance services.
- Global drone inspection market for oil & gas is valued at $2.3 billion, with a CAGR of ~28.5%.
Price Impact
More from ZENA