NEW YORK — The Hearst Corp. has agreed to acquire CAMP Systems International from private equity firm GTCR for an undisclosed amount. CAMP will become part of Hearst Business Media.
CAMP is a leading global provider of software-as-a-service (“SaaS”) solutions for managing and tracking the maintenance of jets, turbo prop aircraft and helicopters used in business aviation, as well as enterprise information systems used to manage service centers. CAMP serves more than 19,000 aircraft, 30,000 engines and 1,300 maintenance facilities globally. CAMP has headquarters in Merrimack, NH, and has 12 offices around the world.
CAMP’s tracking software serves an essential market need as nearly all business aircraft owners require maintenance tracking software to comply with global regulations and guidelines, ensure aircraft safety and improve operating efficiency.
Strategically, Hearst continues to diversify into data and information-based companies, while growing its media assets.
Hearst President and CEO Stephen Swartz said: “Under CEO Ken Gray and President Vibby Gottemukkala, CAMP has an impressive record of growth and long-term customers that include the world’s leading business aircraft manufacturers. I’m excited about our future together and welcome Ken, Vibby and their colleagues to Hearst.”
“We look forward to partnering with the CAMP team to capitalize on new opportunities to create more growth, expand its global reach and develop new offerings,” said Hearst Business Media President Richard Malloch. “Hearst Business Media is committed to growing our information solutions businesses, developing new capabilities and entering new markets.”
CAMP CEO Ken Gray said: “We are delighted to join Hearst’s family of market-leading companies. We know that Hearst’s management team is committed to our success, and our customers and employees will benefit from our partnership.”