The U.S. Department of Justice (DOJ) has issued a statement regarding the closure of its investigation into Arrive AS's proposed acquisition of Passport Labs Inc. The Antitrust Division emphasized its commitment to protecting competition while managing its resources effectively.

Arrive announced its intent to acquire Passport on March 4, with both companies providing mobile parking payment solutions (MPPs) among other services. The DOJ opened an investigation and issued Second Requests to both firms to gather more information.

During the investigation, the Antitrust Division prioritized the production of evidence related to competition in the MPP market. They conducted a thorough review over five months, analyzing documents, data, and interviewing industry participants, including municipalities.

The DOJ concluded that the merger would not likely lead to a substantial reduction in competition, noting that smaller vendors have recently secured municipal contracts, indicating viable alternatives exist. Additionally, Passport has not been competitive in recent bids for notable contracts.

As a result of these findings, the Antitrust Division decided to close the investigation, believing that municipalities will continue to have meaningful alternatives in the MPP market.