Hearst Communications Inc.

03/12/2024 | Press release | Distributed by Public on 03/12/2024 15:14

Hearst’s CAMP Systems International Agrees To Acquire Avinode Group and Aviation FBO Software Products From World Kinect Corporation

MERRIMACK, N.H., March 12, 2024 - CAMP Systems International, a unit of Hearst, has agreed to acquire a portfolio of aviation software businesses from Miami-based World Kinect Corporation.

The businesses include the Avinode Group, the world's leading air charter sourcing platform, and World Kinect's portfolio of aviation software serving fixed-base operators (FBO), delivering a range of aeronautical services such as fueling, hangaring, tie-down and parking, and aircraft maintenance.

The announcement was made by Hearst President and CEO Steven R. Swartz and CAMP President and CEO Sean Lanagan. The closing of the transaction is subject to customary closing conditions.

CAMP is the premier aircraft health management and enterprise information systems solution for business aviation. It also operates the largest digital marketplace for parts, services and aerospace business intelligence.

Commenting on the acquisition, Lanagan said: "We are excited to acquire the Avinode Group and FBO products with their strong track record of delivering innovative, market-leading solutions. This acquisition represents a complementary extension of our business and platform, to bring exciting new opportunities to the market and better serve our expanding customer base."

CAMP's aircraft health management services are provided to 20,000 aircraft and over 30,000 engines. CAMP's software solutions support over 1,500 service center and maintenance, repair and overhaul organizations. Its global digital marketplaces enable over 30,000 users to execute millions of business transactions annually.

About Hearst
Hearst is one of the nation's largest global, diversified information, services and media companies. Hearst has been innovating for more than a century, leading with purpose, integrity and a culture of care, with a mission to inform audiences and improve lives.

The company's diverse portfolio includes global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; Hearst Transportation, which includes CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets and helicopters; ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; 35 television stations; 24 daily and 52 weekly newspapers; digital services businesses; and more than 200 magazines around the world.

Hearst is always moving forward, investing in healthcare solutions to improve patient outcomes and technology that curbs emissions; providing vital analysis, data and software to the global financial services industry; delivering important service and investigative journalism; and inspiring audiences with sports and entertainment programming. With a commitment to maintaining the highest quality in its products and services, Hearst is dedicated to serving the communities it operates in, both civically and philanthropically.

About CAMP Systems International, Inc.
CAMP is the leading independent provider of aviation management products and services with a proven track record of over 55 years. CAMP is committed to providing the highest quality products and services to the aviation community across the globe. CAMP is privately held by Hearst.

About Avinode Group

Avinode Group offers a fully connected suite of essential software to support business aviation professionals through the full supply chain of managing, sourcing, booking and paying for aircraft. Founded in the heart of Scandinavia in 2002, Avinode Group now has more than 1,800 members globally and a team spread across Europe, the U.S. and Australia to provide their members with the best support possible.

About World Kinect Corporation

Headquartered in Miami, Florida, World Kinect Corporation (NYSE: WKC) is a global energy management company offering fulfillment and related services to more than 150,000 customers across the aviation, marine and land-based transportation sectors. We also supply natural gas and power in the United States and Europe along with a growing suite of other sustainability-related products and services.

Media Contacts:

[email protected] or Paul Luthringer, Hearst, 212-649-2540, [email protected]