Arrive announces intent to acquire Passport
The intended acquisition furthers Arrive's mission to deliver a leading platform for urban mobility, advancing the integration of self-driving technologies to accelerate the company's commitment to making cities more livable.
For over a decade, Passport has become a technology partner for over 800 cities and private operators across
This strategic move is the next pivotal step in Arrive's ambition to future-proof urban mobility. Together, the companies will build solutions necessary for the autonomous shift. This will not only unlock new revenue streams for partners, but also ensure that emerging self-driving technologies are integrated into the fabric of more livable communities.
The intended acquisition is supported by Arrive's owners, including investment firms Verdane, Vitruvian Partners and Searchlight Capital Partners, L.P, and is subject to regulatory review in
About Arrive
Arrive is a leading global mobility platform with the mission to ease movement in cities. Through its family of brands, including EasyPark, Flowbird, RingGo, ParkMobile and Parkopedia, the company is present in more than 20,000 cities across 90 countries, helping people and decision-makers make smarter choices about urban travel. Arrive makes cities more livable through delivering core competencies such as autonomous vehicle management solutions, smart payments and optimizing parking solutions, to data-driven traffic reduction measures and refining public transport networks. For more information and news, visit arrive.com
About Passport
Passport is the technology leader in parking compliance and curbside payment solutions. By helping cities integrate paid parking, enforcement technology, and payment infrastructure into one software solution, Passport provides the only platform that connects the complexities of mobility to efficiently manage and monetize the curb. From mobile payments to citation issuance, permitting technology and more, Passport is empowering cities of all sizes with better insights to improve parking turnover, expand revenue opportunities, and create better compliance. Passport is trusted by more than 800 clients across
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https://news.cision.com/arrive/r/arrive-announces-intent-to-acquire-passport,c4316738
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View original content:https://www.prnewswire.com/news-releases/arrive-announces-intent-to-acquire-passport-302704135.html
SOURCE Arrive
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