U.S. tech firm purchases Saskatoon drone company Draganfly Innovations

Saskatoon-based Draganfly Innovations has been purchased by TRACE Live Networks, a California-based tech firm.

Draganfly was founded in 1998, and is the longest running manufacturer of multi-rotor helicopters in the world.

It was also the maker of the first civilian drone to be credited with saving a life. That accolade meant a Draganfly drone was added to the collection of the Smithsonian Air and Space Museum.

Draganfly's headquarters will remain in Saskatoon. Founder and president Zenon Dragan will continue to lead the company's drone division and will become an executive at the new company.

"This acquisition allows us to expand and provide our UAV solutions to larger markets," Dragan said in a release. "More organizations will benefit from the industry leading aerial imaging and data that our systems provide. We will continue to develop products that push the boundaries of technology."

TRACE Live Networkis best known for its TRACEr1, a camera that tracks its subjects while broadcasting the images online.

Draganfly drones are used for everything from search and rescue to agricultural mapping and aerial photography.