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. The lawsuit cost Uber precious time in its self-driving car ambition, which is a key to its long-term profitability. As part of the deal, Waymo gets a 0.34 percent 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. 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: bd News24 February 10, 2018 03:33 UTC