Uber And Waymo Have A settlement

Published: Wilson Clark

On: Feb 2018

Uber and Waymo have reached a settlement. Companies were in dispites when Waymo alleged Uber of stealing trade secrets from the self-driving company.

As part of the agreement, Uber is giving a 0.34% Uber stake to Waymo.Uber has agreed not to use Waymo's technology in its self-driving cars.

On the settlement, Uber CEO Dara Khosrowshahi, expressed regret for the way company handled the matter. He further said that the company will not agree to everything but it accepts that the acquisition Otto by Uber should have been dealt differently.

Otto was a self-driving trucking company. Uber bought it for $650m in 2016.