Uber Settles With Waymo/Google For $245 Million In Stock

11 February, 2018, 05:18 | Author: Darnell Taylor
  • Uber Settles With Waymo/Google For $245 Million In Stock

The settlement includes an agreement "to ensure that any Waymo confidential information is not being incorporated in Uber hardware and software".

Witnesses like Alphabet CEO Larry Page and Levandowski were expected to appear at some point this week at the federal court session in San Francisco, but the this settlement has put an end to that.

A second source says that before the current settlement was reached, there was another offer with a higher equity value given to Waymo (around $500 million) and that had fewer constraints on Uber about the use of Waymo technology, but that Uber's board rejected that offer at a meeting Tuesday night.

"We are committed to working with Uber to make sure that each company develops its own technology", a Waymo spokesperson said. "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".

Uber and Waymo, a subsidiary of Alphabet / Google that specializes in autonomous vehicle technologies, reached an amicable agreement ending accusations of theft of patents made by the latter against the former. Uber rebutted that its self-driving sensor designs were unique and that Levandowski's actions were unrelated to his work at Uber.

Kalanick, a polarizing figure who resigned as Uber's CEO last June, had already spent part of two days on the stand reviewing old texts between him and Levandowski indicating that they were willing to go to any lengths to catch up with a self-driving auto project that Google started in 2009. Levandowski, who isn't a defendant in the lawsuit, refused to answer questions from Waymo and turn over documents, citing his constitutional right against self-incrimination.

Behind the scenes, company officials admit, negotiations were taking place.

Gunners sweating player fitness for Tottenham derby clash
As usual we'll on Today FM from 2.00 and our second commentary game comes from Goodison Park as Everton host Crystal Palace.


North Korea's Kim invites South Korean president for summit
North and South Korea are technically still at war after their 1950-53 conflict ended in a truce rather than a peace treaty. Kim passed a handwritten note from her brother to South Korea's President.


Joyful cheer opens Games for unified Korean team
Friday's ceremony will be attended by North Korea's delegation, including its nominal head of state, Kim Yong Nam . There's worry too that the proposed summit Pyongyang may come with preconditions - a North Korean specialty.


Uber is paying $245 million to Google's self-driving auto spinoff to end a legal brawl that aired out allegations of a sinister scheme that tore apart the once-friendly companies.

The lawsuit that Waymo/Google/Alphabet filed against Uber previous year - alleging the theft of trade secrets relating to the company's LiDAR tech for use in self-driving vehicles - has now ended, following a settlement. Uber bought Levandowski's start-up, Otto, for $680 million in 2016. Uber fired its self-driving chief after Waymo sued, and it is well behind on its plans to deploy fleets of autonomous cars in one of the most lucrative races in Silicon Valley.

Uber's chief executive, Dara Khosrowshahi, said that the company does not believe it received any trade secrets from Waymo, and that it is taking steps to ensure that its research is unique to work carried out internally.

"Waymo had already achieved most of what it needed, and Uber, with a fundamental change in management, no longer had the emotional investment that would justify carrying on the fight", said Jim Pooley, a trade-secrets expert who has followed the case.

Waymo is deploying its own self-driving rideshare program at the same time and has ordered "thousands" of vehicles from Fiat Chrysler for its service.

"No trade secrets ever came to Uber", Kalanick in the statement.

The terms of the compromise, which comes less than a week after the start of the trial, which saw Travis Kalanick, the founder and former boss of Uber, testify at the bar, were not disclosed.

Recommended:



Popular

Trump's chief of staff in harsh spotlight after senior aide's resignation
He has told the Washington Post that he was the victim of abuse and says he is seeking legal advice to address her defamation. He did a good job while he was in the White House, ' Trump said , before wishing him a 'wonderful career'.

US Congress passes spending bill, sends to Trump to end shutdown
The delay in its passage began when Kentucky Republican Sen. "I want them to feel uncomfortable", he said. The young people were brought illegally to the country as children years ago, mostly from Mexico.

Johnson, Hossler tied for Pebble Beach lead
Johnson and Jordan Spieth - tied for 23rd after his 66 on Friday - will tee off at 9:21 a.m. on Saturday at Pebble Beach. The left-hander picked up 11 strokes through 15 holes, only to bogey his final two holes for a nine-under 62.

Johann Johannsson, Golden Globe-winning film composer, dies at 48
He will be so greatly missed by his Gorfaine/Schwartz family as well as the entire film music community". His composition for the 2016 release Arrival brought him Golden Globe, BAFTA and Grammy nominations.

Israel unleashes military attack on Syria after fighter jet is downed
Iran and allied forces have fought alongside government troops against the U.S. backed rebels and Jihadists in the seven-year war. Iran also threw its direct support behind Asad and the rebels were soon pushed out of much of the territory they had gained.

Jose Mourinho pre Newcastle presser
The way I like my players to be not just on the pitch but during the training week, and he made a big effort'. The Magpies are without a win in their last 5 whilst United have dropped points just once, in 2018.

Cavs trade Wade to Miami, overhaul roster
It's something the Celtics hope falls apart, as they have the right to the Lakers' pick this year if it falls picks 2-5. I don't know, we'll see. "I think he and his representation were very, very appreciative of that", Altman said.

Cahill admits Chelsea are at a crossroads after hitting alarming slump
Conte has expressed serious concerns over striker Alvaro Morata's availability for the Champions League last-16 clash against Barcelona.

Morata hints at Real Madrid return
Chelsea boss Conte said: "We are talking a lot about bad results, but sometimes we forget we are facing a serious situation". The Spaniard last featured for the Blues in his side's FA Cup win over Norwich City on 17 January.

Miami Beach resident Carlos Cordeiro becomes first Hispanic president of USA soccer
He will replace Sunil Gulati in the role. "They represent everybody, and what they did is they failed many of us". You have someone like Carlos Bocanegra who probably will be on the World Cup organizing committee.