Uber reaches almost quarter billion dollar settlement with Waymo as trial dismissed

Uber reaches almost quarter billion dollar settlement with Waymo as trial dismissed

Uber reaches almost quarter billion dollar settlement with Waymo as trial dismissed

Uber and Waymo have reached a settlement over claims Uber stole trade secrets from the self-driving company. Uber has co-founder and former CEO Travis Kalanick at the top of its witness list.

Uber has settled a battle with Alphabet 's self-driving vehicle unit Waymo.

"To be clear, while we do not believe that any trade secrets made their way from Waymo to Uber, nor do we believe that Uber has used any of Waymo's proprietary information in its self-driving technology, we are taking steps with Waymo to ensure our lidar and software represents just our good work", Khosrowshahi said in the statement. A source at Uber familiar with the agreement said the ride-hailing company will provide Waymo with a 0.34 percent equity stake in Uber, which has been valued at $72 billion.

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Uber's chief executive, Dara Khosrowshahi, expressed "regret" over the way his company had handled the issue.

Waymo said that when Uber acquired a start-up from a star Google engineer, Anthony Levandowski, Levandowski brought some 14,000 Google files with him. Presiding Judge William Alsup noted after the announcement that a settlement like this, in the middle of a trial, is rare. Levandowski, who isn't a defendant in the lawsuit, refused to answer questions from Waymo and turn over documents, citing his constitutional right against self-incrimination.

I've told Alphabet that the incredible people at Uber ATG are focused on ensuring that our development represents the very best of Uber's innovation and experience in self-driving technology.

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Wednesday is Kalanick's second day of testimony in a trial centered on allegations that he conspired with former Google engineer Anthony Levandowski to rip off Google's self-driving auto project, while Uber was attempting build its own robotic vehicles. "Of course, we are also competitors". Waymo said engineer Anthony Levandowski downloaded more than 14,000 confidential files in December 2015 containing designs for autonomous vehicles before he went on to lead Uber's self-driving auto unit in 2016.

The settlement includes an agreement "to ensure that any Waymo confidential information is not being incorporated in Uber hardware and software".

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