Camp provides software-as-a-service (SaaS) solutions for managing and tracking the maintenance of jets, turbo prop aircraft and helicopters used in business aviation. It also supplies enterprise information systems used to manage service centers.
While Camp’s technology may seem like a strange fit for a media company that publishes Cosmopolitan and Elle, Hearst has a diverse investment portfolio that includes other data and information-based companies. Camp serves more than 19,000 aircraft, 30,000 engines and 1,300 maintenance facilities globally.
Hearst Business Media president Richard P. Malloch stated the partnership would "capitalize on new opportunities to create more growth, expand its global reach ... Hearst Business Media is committed to growing our information solutions businesses, developing new capabilities and entering new markets.”
In June, Hearst acquired a majority stake in MedHOK, a healthcare SaaS company. MedHOK is now part of Hearst Health, the publisher’s healthcare information solutions group within its Business Media division. It includes companies such as FDB, Zynx Health, MCG and Homecare Homebase.
Hearst Health’s solutions span the clinical, pharmacy, home and hospice care and health insurance markets.
In February, Hearst Health invested in Lightbeam Health Solutions, a provider of technology services that help healthcare providers manage groups of patients.
Hearst’s expanded investments in information solutions businesses this year may signal a need for the company to diversify its revenue sources to counterbalance falling advertising revenue.
According to Hearst, 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.”