ZenaTech Announces a Software Company Acquisition Adding Significant Capabilities to Building AI Drones
ZenaTech (Nasdaq: ZENA) has announced an agreement to acquire ZooOffice Inc., which holds software companies Jadian and DeskFlex, from its former parent company. The acquisition will enhance ZenaTech's AI drone solutions by incorporating compliance, inspection, scheduling, and mapping software capabilities. Jadian's compliance software will integrate with ZenaDrone to help farmers manage regulatory requirements, while DeskFlex's scheduling and mapping software will strengthen property management solutions. The deal aims to expand ZenaTech's SaaS portfolio and increase recurring revenue in the government sector, subject to shareholder and regulatory approvals.
ZenaTech (Nasdaq: ZENA) ha annunciato un accordo per acquisire ZooOffice Inc., che possiede le aziende software Jadian e DeskFlex, dalla sua ex società madre. L'acquisizione migliorerà le soluzioni droni AI di ZenaTech, integrando capacità software per la conformità, l'ispezione, la pianificazione e la mappatura. Il software di conformità di Jadian si integrerà con ZenaDrone per aiutare gli agricoltori a gestire i requisiti normativi, mentre il software di pianificazione e mappatura di DeskFlex rafforzerà le soluzioni di gestione immobiliare. L'accordo mira ad espandere il portafoglio SaaS di ZenaTech e ad aumentare i ricavi ricorrenti nel settore pubblico, soggetto all'approvazione da parte degli azionisti e delle autorità regolatorie.
ZenaTech (Nasdaq: ZENA) ha anunciado un acuerdo para adquirir ZooOffice Inc., que posee las empresas de software Jadian y DeskFlex, de su antigua empresa matriz. La adquisición mejorará las soluciones de drones AI de ZenaTech al incorporar capacidades de software de cumplimiento, inspección, programación y mapeo. El software de cumplimiento de Jadian se integrará con ZenaDrone para ayudar a los agricultores a gestionar los requisitos regulatorios, mientras que el software de programación y mapeo de DeskFlex fortalecerá las soluciones de gestión de propiedades. El acuerdo tiene como objetivo expandir la cartera de SaaS de ZenaTech y aumentar los ingresos recurrentes en el sector gubernamental, sujeto a la aprobación de los accionistas y de las autoridades regulatorias.
ZenaTech (Nasdaq: ZENA)는 이전 모회사로부터 Jadian 및 DeskFlex 소프트웨어 회사를 보유한 ZooOffice Inc.를 인수하기 위한 협약을 발표했습니다. 이 인수는 AI 드론 솔루션을 개선하여 준수, 검사, 일정 관리 및 맵핑 소프트웨어 기능을 통합합니다. Jadian의 준수 소프트웨어는 ZenaDrone과 통합되어 농부들이 규제 요건을 관리하는 데 도움을 주고, DeskFlex의 일정 관리 및 맵핑 소프트웨어는 부동산 관리 솔루션을 강화할 것입니다. 이 거래는 ZenaTech의 SaaS 포트폴리오를 확장하고 정부 부문에서 반복 수익을 증가시키는 것을 목표로 하며, 주주 및 규제 당국의 승인을 조건으로 합니다.
ZenaTech (Nasdaq: ZENA) a annoncé un accord pour acquérir ZooOffice Inc., qui détient les sociétés de logiciels Jadian et DeskFlex, de son ancienne société mère. Cette acquisition améliorera les solutions de drones IA de ZenaTech en incorporant des capacités logicielles de conformité, d'inspection, de planification et de cartographie. Le logiciel de conformité de Jadian s'intégrera avec ZenaDrone pour aider les agriculteurs à gérer les exigences réglementaires, tandis que le logiciel de planification et de cartographie de DeskFlex renforcera les solutions de gestion immobilière. L'accord vise à élargir le portefeuille SaaS de ZenaTech et à augmenter les revenus récurrents dans le secteur gouvernemental, sous réserve de l'approbation des actionnaires et des autorités réglementaires.
ZenaTech (Nasdaq: ZENA) hat eine Vereinbarung zur Übernahme von ZooOffice Inc. angekündigt, das die Softwareunternehmen Jadian und DeskFlex von seinem ehemaligen Mutterunternehmen hält. Die Übernahme wird die KI-Dronenlösungen von ZenaTech verbessern, indem sie Softwarefähigkeiten für Compliance, Inspektion, Planung und Kartierung integriert. Die Compliance-Software von Jadian wird sich mit ZenaDrone verbinden, um Landwirten zu helfen, die gesetzliche Anforderungen zu verwalten, während die Planungs- und Kartierungssoftware von DeskFlex die Lösungen für das Immobilienmanagement stärken wird. Der Deal zielt darauf ab, das SaaS-Portfolio von ZenaTech zu erweitern und die wiederkehrenden Einnahmen im öffentlichen Sektor zu steigern, vorbehaltlich der Genehmigungen durch die Aktionäre und die Regulierung.
- Acquisition expands SaaS portfolio and customer base
- Expected increase in recurring revenue from government sector
- Integration of compliance software enhances agricultural solutions
- Addition of scheduling and mapping capabilities strengthens property management offerings
- Transaction subject to shareholder and regulatory approvals
- No disclosed financial terms or acquisition costs
Insights
This strategic acquisition significantly enhances ZenaTech's AI drone capabilities through vertical integration. The deal brings two key software assets: Jadian's compliance management platform and DeskFlex's scheduling system. The synergies are compelling - Jadian's compliance software will strengthen ZenaTech's agricultural drone offerings by adding regulatory tracking capabilities, while DeskFlex adds valuable scheduling and mapping features for property management applications.
The transaction diversifies ZenaTech's revenue streams by expanding their SaaS portfolio and government sector presence. While financial terms weren't disclosed, the acquisition of established software platforms with existing customer bases should accelerate ZenaTech's market penetration and reduce development costs compared to building these capabilities internally. The focus on regulatory compliance software also positions ZenaTech to capitalize on increasing environmental and agricultural regulations.
TORONTO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that it has entered into an agreement to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech’s former parent company. The acquisition of these two software companies will provide important compliance and inspection software as well as scheduling and mapping software that will be incorporated into ZenaTech’s ZenaDrone AI drone solutions. This transaction further expands ZenaTech’s portfolio of SaaS software solutions and customer base and is expected to add to recurring revenue in the government sector among others. The acquisition is subject to shareholder and regulatory approvals that may be required.
“Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of our strategy to offer full stack, integrated AI drone solutions targeted to multiple sectors such as Agriculture. Jadian’s compliance software will be integrated with ZenaDrone drone hardware and sensors to help farmers track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions. Deskflex scheduling and mapping software will add value integrated into our property management sector solutions,” said CEO Shaun Passley, Ph.D.
Jadian is a software and services company that provides comprehensive solutions to manage compliance, audits, inspections, licenses, permits, enforcement, quality assurance, and risk management. The company helps customers in municipal and county governments, health facilities, restaurants and retail services like tattoo shops, manage their regulatory and compliance processes, workflow and reporting.
DeskFlex is an AI room booking software company that maximizes every room’s potential by transforming fixed-desk traditional office space allocation into a more dynamic desk hoteling or hot desk environment. DeskFlex helps cut real estate investment costs and ensures efficient office space and room occupancy for both complex large and small offices.
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, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has evolved to multifunctional drone solutions for industrial surveillance, monitoring, inspection, tracking, and process automation, utilizing the ZenaDrone 1000 drone and the IQ series of indoor/outdoor drone products.
About ZenaTech
ZenaTech (Nasdaq: ZENA) is a technology company specializing in AI drone solutions and enterprise SaaS 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 field service processes. With over 100 enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings. The company operates through six offices in North America, Europe, and UAE, and a growing global partner network.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Contacts for more information:
Company, Investors and Media:
Linda Montgomery
ZenaTech
312-241-1415
investors@zenatech.com
Investors:
Michael Mason
CORE IR
investors@zenatech.com
Safe Harbor
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; the intention to complete the listing of ZenaTech’s common shares on an exchange; the ability to deliver products to the market as currently contemplated; ZenaTech’s expectations regarding its revenue, expenses, and operations; 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; changes in the target markets; market uncertainty; the completion of anticipated acquisitions of assets and patents; ability to access additional capital; management of growth (plans and timing for expansion); patent infringement; litigation; applicable laws, regulations, and any amendments affecting the business of ZenaTech.
Forward-looking statements are based on certain assumptions and analyses made by the management of ZenaTech in light of its experience and understanding of historical trends and current conditions and other factors management believes are appropriate to consider, which are subject to risks and uncertainties. Although ZenaTech’s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and actual results may vary materially from the forward-looking information presented. Given these risks and uncertainties underlying the assumptions made, prospective purchasers of ZenaTech’s securities should not place undue reliance on these forward-looking statements.
Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, ZenaTech undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on ZenaTech’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Potential investors should read this document with the understanding that ZenaTech’s actual future results may be materially different from what is currently anticipated.
FAQ
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