Uber settles with Waymo on self-driving

Uber settles with Waymo on self-driving

Uber settles with Waymo on self-driving

Alphabet's Waymo division was seeking at least US$1 billion over the theft of secrets from its self-driving vehicle programme in the trial before federal judge William Alsup.

The agreement also comes with a financial settlement of roughly $244 million in stock.

The attorney representing Waymo, the self-driving auto company spun out of Google, settled its court case with ride-hailing giant Uber on Friday.

Still, the monetary payoutpales in comparison to the damages Alphabet wanted Uber to pay out for its trade secrets, one of which the company valued at more than $1 billion. That equals about $US245 million at Uber's current private valuation of $US72 billion.

Waymo 's lawsuit said that one of the company's former engineers, Anthony Levandowski, downloaded more than 14,000 confidential files containing designs for autonomous vehicles in December 2015 before he went on to work at Uber in 2016, leading the ride-hailing firm's self-driving auto unit. And the trial had its own dramatic moments too, including when former Uber CEO Travis Kalanick took the stand.

Uber is to settle a lawsuit against it brought by autonomous vehicle business Waymo, a sister company to Google, regarding the theft of self-driving auto technology. Uber agreed not to use any Waymo technology or components in its cars.

The dispute has led to explosive headlines over the past year about the accusations and sparked debate about the appropriateness of the Silicon Valley ethos of "move fast and break things" epitomized - though not coined - by the ride-hailing firm. In light of the settlement, U.S. District Judge William Alsup dismissed the case with prejudice this morning.

Still, according to a person close to the settlement negotiations, the agreement bars Uber from including Waymo's trade secrets into both its hardware and software.

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Khosrowshahi took over after Kalanick resigned in June.

Kalanick denied telling the board that diligence on Levandowski had come back "clean".

On the fifth day of the Waymo v. Uber trial in San Francisco, the two tech giants announced that they've reached a settlement. "And the reason they do so is because for all his time at Uber, all Uber has to show for Anthony Levandowski is this lawsuit".

"He wrote this letter [after the agreement] saying that his job is to set the course for the future of the company", she said. "Of course, we are also competitors".

Khosrowshahi asserted that buying Otto made "good business sense", but that the acquisition "could and should have been handled differently".

Levandowski apologized to Uber employees for any distraction arising from the clash with Google. The company is working to reduce its legal bills under general counsel Tony West, who joined Uber past year, but still faces more than 700 lawsuits worldwide. For that I am sorry.

Kalanick closed his gibberish by stating that he "remains proud of the critically important contributions Uber ATG [Advanced Technologies Group] has made to the company's future, and I look forward to their inspired efforts becoming a reality on the roads in cities around the world".

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