PALO ALTO: Navan, the global AI-powered business travel and expense platform, announced Wednesday it has acquired BoomPop, an AI-powered meetings and events platform recognized by Inc. as one of the fastest-growing private companies in America.

Terms of the deal were not disclosed.

Founded in 2023, BoomPop uses artificial intelligence to help companies plan and manage events from start to finish, including venue and vendor sourcing, room blocks, contracts and payments. The company has supported events for approximately 250,000 people at companies including Accenture, Amazon, Google, Salesforce and Shopify. BoomPop estimates it has helped customers reduce booking costs by about 30% on average for events ranging from 15-person gatherings to conferences with thousands of attendees.

The acquisition follows a partnership announced earlier this year between the two companies and is intended to expand Navan’s presence in the meetings and events sector, where most spending occurs outside managed channels.

“We believe that in-person connections drive business forward. But bringing teams together often requires juggling emails, spreadsheets, vendors, and disconnected tools,” said Michael Sindicich, president of Navan. “Fully integrating BoomPop’s team and technology into Navan will help us scale our existing meetings and events business, accelerate our roadmap, and meet growing customer demand for more connected experiences across travel, expense, meetings, and events.”

Healey Cypher, co-founder and CEO of BoomPop, said the partnership showed customers the value of combining travel and events.

“Joining forces means every company gets one partner for the whole thing, from a ten-person offsite to a 500-person global sales kickoff,” Cypher said.

Navan said the transaction is not expected to have a material impact on its previously issued guidance. The company said it will draw on its experience integrating other companies, including Reed & Mackay, Comtravo, Tripeur and Smartrips, to ensure a seamless experience for customers.

Navan is traded on the Nasdaq under the ticker symbol NAVN.