Hearst has agreed to acquire CAMP Systems International Inc. from private equity firm GTCR, the company said.
Terms of the agreement were not disclosed. The transaction is expected to close by the end of 2016, subject to regulatory approvals. UBS served as lead financial advisor to CAMP and GTCR with Goldman Sachs and Deutsche Bank also serving as financial advisors.
CAMP is a 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. Headquartered in Merrimack, New Hampshire, CAMP has 12 offices around the world.
Hearst is a diversified media, information and services company with more than 360 businesses. Its major interests include ownership in cable television networks, medical information and services businesses, newspapers, magazines and investments in emerging digital and video companies.
Hearst Business Media is a global technology provider of information, insights, analytics, and workflow solutions to meet worldwide needs in the finance, healthcare and transportation markets.