Navan Inc. (NASDAQ: NAVN) saw its shares rise 4.3% on Thursday after the company disclosed that it has signed a definitive agreement to acquire Smartrips, a travel management firm based in Brazil.
The deal represents Navan’s first acquisition since becoming a public company and is designed to extend the firm’s footprint in Latin America. Navan noted that Brazil accounts for an estimated 40% of business travel spend in the region and identified the country as both a top 10 global market and the largest corporate travel market in Latin America.
Company representatives said the acquisition positions Navan to pursue a larger share of what it describes as a $185 billion market opportunity. After the integration of Smartrips, Navan customers with operations in Brazil will reportedly be able to book and manage travel directly within the Navan platform rather than relying on separate local booking systems. Navan said that consolidating bookings onto a single platform will provide finance teams with unified spend visibility.
Michael Sindicich, President of Navan, commented on the strategic rationale, saying: "Global enterprises want a single, integrated travel platform, no matter where they’re booking, and that’s what the addition of Smartrips is all about." He added that the combination of Navan’s technology with Smartrips’ supplier relationships, local expertise, and IATA credentials will enable the company to offer enhanced service levels.
Smartrips brings local market knowledge and established supplier networks in Brazil to Navan’s capabilities. The company said it plans to integrate Smartrips’ functionality onto its existing platform while preserving the acquired firm’s local expertise and supplier connections.
The transaction follows Navan’s prior international expansion moves, which included acquisitions of Comtravo in Germany, Tripeur in India, and Reed & Mackay in the U.K. Navan indicated the Smartrips integration will follow that same pattern of platform consolidation combined with retention of local operational strengths.
Navan said the acquisition is expected to close in the second quarter of fiscal year 2027 and that the transaction will have no material impact on the guidance the company circulated on June 10, 2026.
Market and sector impact
- Corporate travel and travel-management technology - Navan’s expanded Latin America presence could influence competition and service models for multinational travel programs.
- Financial reporting and expense visibility - consolidation of bookings onto a single platform is intended to improve spend transparency for finance teams.
- Regional services and supplier networks - Smartrips’ local supplier relationships in Brazil are central to the strategic rationale.