Hearst headquarters in New York.

Hearst has acquired Camp Systems International Inc., an aviation software company, from private equity firm GTCR. The terms of the deal were not disclosed. Aside from its media properties, Hearst has a diverse investment portfolio, which includes information-based companies.

In recent months, GTCR had been exploring the sale of Camp, which according to reports, was valued “as much as” $2 billion. In 2012, GTR acquired Camp from Warburg Pincus for $675 million.

According to Hearst, Camp is a global provider of “software-as-a-service” solutions for managing and tracking the maintenance of jets, turbo prop aircraft and helicopters used in business aviation, in addition to enterprise information systems used to manage service centers.

Headquartered in Merrimack, N.H., Camp has 12 offices around the world, and it serves more than 19,000 aircraft, 30,000 engines and 1,300 maintenance facilities globally.

Hearst president and chief executive officer Steven Swartz welcomed Camp ceo Ken Gray and president Vibby Gottemukkala to the Hearst family.

Hearst Business Media president Richard Malloch added: “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. Hearst Business Media is committed to growing our information solutions businesses, developing new capabilities and entering new markets.”

Gray offered: “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.”

“Our partnership with Ken and Vibby and the whole Camp management team has been incredibly rewarding, and we are proud of the strategic growth and transformation that our investment has helped deliver,” said GTCR managing director Craig Bondy. “Hearst is a terrific home for this world-class business.”

UBS served as lead financial adviser to Camp and GTCR with Goldman Sachs and Deutsche Bank also serving as financial advisers. Kirkland & Ellis LLP provided legal counsel to Camp and GTCR. PJT Partners served as financial adviser to Hearst, with Clifford Chance US LLP providing outside legal counsel.

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