Uber Settles with Waymo on Self-Driving Cars

(From BBC News)

Uber and Waymo have reached a settlement over claims Uber stole trade secrets from the self-driving company.

As part of the agreement, Uber is giving a 0.34% Uber stake to Waymo, worth approximately $245m (£177m).

Uber has also agreed not to use Waymo’s technology in its self-driving cars, though it maintains it never did.

Uber’s chief executive, Dara Khosrowshahi, expressed “regret” over the way his company had handled the issue.

In a statement, he said to Waymo: “While we won’t agree on everything going forward, we agree that Uber’s acquisition of Otto could and should have been handled differently.”

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