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Waymo and Uber end trial with sudden $244 million settlement

TechNews

Enlarge / Autodesk VRED Design 2017. (credit: Waymo)

In a stunning turn, Waymo and Uber have settled their self-driving trade secrets lawsuit on the fifth day of the trial.

Ars has learned that Uber has agreed to pay out 0.34 percent of Uber's equity, with a $72 billion valuation, resulting in a payout of over $244 million. That same source noted that had this settlement been a jury verdict, would have been fourth highest jury verdict for trade secret misappropriation reported in the last decade in United States.

In a statement, Waymo said: “We have reached an agreement with Uber that we believe will protect Waymo’s intellectual property now and into the future. We are committed to working with Uber to make sure that each company develops its own technology. This includes an agreement to ensure that any Waymo confidential information is not being incorporated in Uber Advanced Technologies Group hardware and software. We have always believed competition should be fueled by innovation in the labs and on the roads and we look forward to bringing fully self-driving cars to the world.”

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