Navan Stock Gains on Acquisition of Brazilian Travel-Management Company

Dow Jones

Jun 19

By Kelly Cloonan

Shares of Navan rose after the company disclosed plans to acquire a travel-management company in Brazil, a deal that would expand Navan's presence in Latin America.

The stock gained 4.7% to $21.98 on Thursday. Shares have climbed 29% year to date.

The travel and expense-management platform plans to acquire Smartrips as part of an effort to grow its share in Latin America, which it said is one of the largest and fastest-growing segments of the corporate-travel market.

The deal would allow Navan's customers with operations in Brazil to book, manage and track all Brazilian travel directly within the core Navan platform, rather than directing local teams to partner sites or off-platform booking systems.

"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," Navan President Michael Sindicich said.

The company did not disclose the terms of the deal. It expects the transaction to close in the second quarter of fiscal 2027.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 18, 2026 14:23 ET (18:23 GMT)

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