Uber and Waymo abruptly settles lawsuit

In a surprising turn of events, Uber and Waymo have agreed to settle a self-driving trade secrets lawsuit on the fifth day of the case going to trial. Uber agreed to pay out 0.3 percent of its equity, which with the company’s US$72 billion valuation, puts that at over $245 million in stock. The company has also promised to work with Waymo’s parent company Alphabet to make sure none of Google’s confidential data will be used for Uber’s self-driving program (both in the hardware and software side).

The case began over a year ago when Waymo filed a suit against Uber accusing one of its former engineers, Anthony Levandowski, of downloading around 9.7GB of data or around 14,000 files before abruptly resigning from the company and later creating his own company called Ottomotto, which was acquired by Uber a few months later.

Source: Ars Technica