The U.S. Department of Justice issued the following statement today in connection with the closing of the Antitrust Division’s investigation into Arrive AS’s (Arrive) proposed acquisition of Passport Labs Inc. (Passport):“The Antitrust Division is committed to protecting competition while also preserving the Department’s finite resources,” said Associate Attorney General Stanley E. Woodward Jr. “A phased approach to merger review serves those objectives. The Antitrust Division conducted a targeted review of the proposed transaction and has decided to close the investigation.”On March 4, Arrive announced its intent to acquire Passport. Both firms offer mobile parking payment solutions (MPPs), among other
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