Navigant International to Buy SatoTravel

Navigant International Inc. said it agreed to buy SatoTravel for $45 million, making Navigant the second-largest U.S. travel management company based on airline ticket sales.

Navigant will pay $27 million in cash and $18 million in stock, or about 1.47 million shares valued at $12.25 a share, for closely held SatoTravel, based in Arlington, Va. Denver-based Navigant, which will pay an additional $4.8 million in cash and stock if SatoTravel achieves revenue goals, expects to have $4.2 billion in ticket sales after the acquisition.

Navigant shares rose 6 cents to close at $16.88 on Nasdaq.