Uber settles self-driving dispute with Alphabet
San Francisco: Alphabet Inc's Waymo self-driving vehicle unit and ride-hailing firm Uber Technologies Inc settled a bitter legal dispute, allowing Uber's new chief executive to move past one of the company's many public controversies.
The settlement announcement was made just before the fifth day of testimony was about to begin at a jury trial in San Francisco federal court.
Uber agreed to pay equity valued at about $245 million as part of the deal between the rival technology companies, a Waymo representative said.
The settlement also includes an agreement "to ensure that any Waymo confidential information is not being incorporated in Uber Advanced Technologies Group hardware and software", a Waymo representative said. Alphabet is parent company of Google and its subsidiaries. Reuters