Acquisition positions Navan to capture greater share of $185B market opportunity, with Brazil representing an estimated 40% of Latin American business travel spend

Navan (NASDAQ:NAVN), the global AI-powered travel and expense management platform, today announced it has signed a definitive purchase agreement to acquire Smartrips, a leading Brazilian travel management company. The transaction will mark Navan's first acquisition as a public company and extend the company's footprint deeper into Latin America, one of the largest and fastest-growing segments of the global corporate travel market.

This transaction is expected to close in the second quarter of fiscal year 2027 and has no material impact to Navan's guidance shared on June 10, 2026. Terms of the transaction were not disclosed.