In a lawsuit filed last year, Waymo said that one of its former engineers who became chief of Uber’s self-driving car project took with him thousands of confidential documents. As part of the deal, Waymo gets a 0.34 per cent stake in Uber, worth about $245 million based on Uber’s current $72 billion valuation, a Waymo representative said. After four days of testimony, Waymo had presented little public evidence that Uber used Waymo’s trade secrets. By late Thursday, Waymo agreed to the $245 million deal, one of the sources said. To prevail in the trial, Waymo would have had to prove not only that Uber acquired Waymo’s trade secrets, but that it used them in its own technology.

Source: The Express Tribune February 10, 2018 08:03 UTC