Uber Settles With Waymo/Google For $245 Million In Stock

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A jury trial to decide a lawsuit filed by Waymo a year ago was dismissed by the judge just five days after it started in San Francisco federal court. Uber later fired Levandowski as allegations against him surfaced.

Waymo says that it will work with Uber to ensure its information isn't being utilized with Uber's Advanced Technologies Group.

Khosrowshahi expressed "regret" over the company's actions.

In its lawsuit, Waymo claimed that one of the leaders of its self-driving auto development program, Anthony Levandowski, took 14,000 confidential files relating to the venture's laser-scanning technology with him when he left to help create a self-driving truck company called Otto.

Khosrowshahi's statement added that Uber does not believe that his company acquired trade secrets from Waymo or used any proprietary information in its self-driving technology. Anthony Levandowski, head of Uber's self-driving program, speaks about their driverless auto in San Francisco.

In the end, Uber's settlement with Waymo doesn't require it to pay out a particularly large sum of money or change its self-driving vehicle plans, but the yearlong litigation still brought to light many unflattering details about the and its former CEO, . And while we won't agree on everything going forward, we agree that Uber's acquisition of Otto could and should have been handled differently.

Waymo is deploying its own self-driving rideshare program at the same time and has ordered "thousands" of vehicles from Fiat Chrysler for its service.

Levandowski apologized to Uber employees for any distraction arising from the clash with Google.

"T$3 he prospect that a couple of Waymo employees may have inappropriately solicited others to join Otto, and that they may have potentially left with Google files in their possession, in retrospect, raised some hard questions", he wrote.

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As part of the settlement, Uber will pay Waymo 0.34% of Uber equity, valued at Series G-1 round at an approximate $72B valuation.

Stock in the privately held Uber would be transferred immediately to Alphabet, which was an early Uber investor and remains as one of its largest shareholders.

In a seperate statement, Uber CEO Dara Khosrowshahi doubled down on the company's previous defense that it didn't use any of Waymo's ideas.

Uber's settlement with Waymo has essentially forced parent company Google to become an investor in Uber and its future, which includes the ride-sharing company's plans to go public. It was an early investor in Uber and, although it sold some of its stock late past year, it still holds a significant stake in Uber.

Kalanick remained adamant in a statement Friday that facts of the case were on Uber's side. "The evidence at trial overwhelmingly proved that, and had the trial proceeded to its conclusion, it is clear Uber would have prevailed", the statement said.

"I remain proud of the critically important contributions Uber ATG has made to the company's future", Kalanick said.

Autonomous cars offer a multi-billion-dollar opportunity to remake transportation, and companies including Apple Inc (O:), General Motors Co (N:), Ford Motor Co (N:), Volkswagen AG (DE:) and scores of startups are competing to develop the technology.

"We believe this deal will protect Waymo's intellectual property", a spokeswoman said Friday.

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